10% down 10% interest 5 year ballon 30 Year amortization
10% down 10% interest 5 year ballon amortization
Can someone explain to me exactly how this works please. 5 years 10% interest - does it mean for 5 years you only pay interest?
Thank you!
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
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A crazy high interest rate, more than double the market rate.
Your payment will be 8.7757 per $1000 borrowed, per month, principal and interest. At the end of 5 years you’ll owe 96.502% of what you borrowed.