I don't understand Commercial loans
I'm having trouble trying to wrap my head around commercial loans. I read a couple articles but I can't seem to understand the 25 years amortize and the balloon payments. Any links to an example would be tremundus help. Thanks again BP nation!
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Your payment and interest are setup as if you have a full 25 year loan. At the balloon year, you have to pay what ever is left on the principal. Your balloon term is typically 3,5,7, or 10 years