Archive for: November 7, 2006November 7, 2006 Mortgage Broker Company - Need A Special Mortgage? 5What is a Co-Op loan? A Co-Op loan is used when you purchase a condominium. A conominium is a place a person owns their own apartment in a building with many apartments. You share areas such as parking lots, elevators, recreational … Mortgage Broker Company - Need A Special Mortgage? 4What is a Bridge Loan? Bridge loans also have the terminology swing loans. This loan is used when you are selling you home and need the proceeds from this sale to purchase your new home. If your current home does not sell … Mortgage Broker Company - Need A Special Mortgage? 3What is A Balloon Loan? Balloon Loans are also called bullet loans. They have a term between 3 and 7 years, however, the payments are calculated on a term of 15 years with the balance due in one large payment at … |
