what is a 15/30 ballon?

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what is a 15/30 ballon?

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Anonymous (not verified)
9-02-2011

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Hi! Welcome to forums! Most of the balloon loans have a loan term of 30 years, meaning that the payment is calculated over that period. However, the the balance is due earlier i.e. after 15 years. In the worst case you will have to refinance in 15 years. Feel free to ask if you've further queries. Sussane

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smith.sussane | Asked on 2011-11-17

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