Don't Forget To Request A Quick Status Report On Any Homes Or Properties That Interest You! It can take days, weeks, or longer for changes to appear on web sites. Don't waste your time with less than current information. Request our free Status Report and find out if the homes you are interested in are still on the market, under contract, in escrow, or if the price has been reduced. The Status Report that you'll receive by email will also include other important information that has been left out or that is available to us through our professional resources, such as how long the property has been on the market, when it was last sold, what it sold for, and more. Remember: As top Frisco, Plano and North Dallas area real estate agents, it's our job to know more about a property than any web site. Make sure you have the most current information! 
Financing Your Home >Balloon Mortgages
In loan terminology a "balloon" is the unpaid loan balance that must be paid in full on a specified due date. Federal savings and loan associations are permitted to make balloon mortgages with as little as five percent down and monthly payments that are smaller than the amount needed to fully amortize the debt. On the due date, which may be only a few years after the loan was made, the balance must be paid off or the loan must be renegotiated. Balloon borrowers must be cautious and plan carefully to avoid overlooking balloon payment obligations. It is easy to be lulled into complacency by the easy monthly payment terms.
Today's complex economics have produced a wide variety of options for potential borrowers, who are often surprised by how much house they can afford to buy. Loan approval is ultimately in the lender's hands, but your real estate agent can help you to determine your real buying power.
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