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Updated almost 9 years ago on . Most recent reply

Randall Hoeber's profile image
Randall Hoeber's profile image
Randall Hoeber
  • from Yorkton, Saskatchewan
  • Member since Sep 16, 2016
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Randall Hoeber's profile image
Randall Hoeber's profile image
Randall Hoeber
  • from Yorkton, Saskatchewan
  • Member since Sep 16, 2016
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Randall Hoeber
  • Yorkton, Saskatchewan
26
Votes |
53
Posts
Private Lending & Conventional Mortgage Advice

Balloon Loans

Randall Hoeber
  • Yorkton, Saskatchewan
Posted

Can someone share with me their experiences pertaining to balloon loans/terms?  This is a new term to me and while I did some research on the subject, I would like some feedback on the pros and cons based off of personal experiences.

Thanks, Randall

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Randall Hoeber's profile image
Randall Hoeber's profile image
Randall Hoeber
  • from Yorkton, Saskatchewan
  • Member since Sep 16, 2016
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User Stats

53
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Votes
Randall Hoeber's profile image
Randall Hoeber's profile image
Randall Hoeber
  • from Yorkton, Saskatchewan
  • Member since Sep 16, 2016
Connect
Randall Hoeber
  • Yorkton, Saskatchewan
26
Votes |
53
Posts
Randall Hoeber
  • Yorkton, Saskatchewan
Replied

Thanks Scott for the response.  Based on your knowledge of the product, am I locked into that five year term or is it possible to refinance sooner?  My overall plan for the property is to hold and rent.  My intention would be to refinance within 2 to 3 years and purchase another rental property.  Is that possible with this particular product?

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