When exploring mortgage or loan options, you may come across something called a balloon payment   and it’s important to understand exactly what that means before you commit. A balloon payment  is a large lump sum due at the end of a short loan term , typically 5–10 years , after making lower monthly payments  that are calculated as if the loan were stretched over a longer amortization (like 30 years). This setup can make your payments more affordable upfront , which is great

When it comes to getting approved for a home loan, one thing is crystal clear: your income speaks louder than your assets.  Whether...