What do balloon mortgage and ARM have in common?

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asked Jun 7, 2022 85.4k views

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Roberto Maldonado · Answer 1 · 2022-06-09T05:46:04+0000

Answer:

In other respects, a balloon mortgage resembles an adjustable rate mortgage (ARM) with an initial rate period equal to the balloon period. A 7-year balloon, for example, is usually compared to a 7-year ARM. Both have a fixed-rate for 7 years, after which the rate will be adjusted.

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What do balloon mortgage and ARM have in common?

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