Re: Mortgage rates
darth- well, the common issue is the loan matures at the end and is due in full. since this is a 5-6 yr home for me, 7 yrs buys me the time. this particular loan, while called a 'balloon' by my bank, is not a tradional one. it allows for a refi option anytime during the loan at a cost of only $250 (usual refi's would cost me $2-3K on this loan amount). it was the best option for me- lowest rate i could get without paying points, fixed for longer than i plan to be in the house, and still has a fall back refi option.
