Conventional Balloon Reset Mortgage Loans

If you anticipate selling or refinancing your home within 5 to 7 years, consider a Conventional Balloon Reset Mortgage.

Balloon reset mortgages have monthly mortgage payments based on a 30-year amortization schedule, with your fixed rate set for 5 or 7 years. At the end of the 5- or 7-year term, you can either pay off the remaining balance or reset the mortgage.