Kennesaw, Canton and Acworth real estate and homes for sale in Georgia - The John and Linda Monroe Team, REALTORS® The John and Linda Monroe Team REALTORS(r) for Kennesaw, Canton and Acworth, Georgia real estate - NUMBER1EXPERTS™ The John and Linda Monroe Team NUMBER1EXPERTS(tm) for Kennesaw, Canton and Acworth, Georgia real estate
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The John and Linda Monroe Team, REALTOR®, real estate agents and broker for Kennesaw, Canton and Acworth Georgia home listings, property and land for sale - NUMBER1EXPERT(tm)
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Mortgage Calculators: Kennesaw, Canton and Acworth Georgia home buying, real estate listings, and homes for sale in Cobb and South Cherokee County, GA
Welcome > Resources > Mortgage Calculators > Balloon Mortgages ...


The Best Mortgage Calculators On the Web! 

Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep... 

Are Balloon Mortgages For You?

A balloon mortgage can be an excellent option for many home buyers. A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. They often have a lower interest rate, and can be easier to qualify for than a traditional 30 year fixed mortgage. There is, however, a risk to consider. At the end of your loan term you will need to pay off your outstanding balance. This usually means you must refinance, sell your home or convert the balloon mortgage to a traditional mortgage at the current interest rates.

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Definitions

Mortgage amount
Original or expected balance for your mortgage.

Interest rate
Annual interest rate for this mortgage.

Term in years
The number of years over which you will repay this loan. The most common balloon mortgage terms are 5 years and 7 years. After the mortgage term is complete, you will then need to refinance or pay off the remaining balance.

Monthly payment
Monthly principal and interest payment (PI). The monthly payment is calculated using a 30 year term.

Total payments
Total of all monthly payments over the term of the balloon mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest
Total of all interest paid over the term of the balloon mortgage. This total interest amount assumes that there are no prepayments of principal.

Prepayment type
The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.

Prepayment amount
Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.

Start with payment
This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation.

Savings
Total amount of interest you will save by prepaying your mortgage.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.




The John and Linda Monroe Team, REALTOR®, real estate agents and broker for Kennesaw, Canton and Acworth Georgia home listings, property and land for sale - NUMBER1EXPERT(tm)

The John and Linda Monroe Team
Prudential Georgia Realty

220 Cinema View, Suite 100
Woodstock, GA. 30189
Office: 770-425-1999
Fax: 770-704-7894
johnandlinda@NUMBER1EXPERT.com

John and Linda Monroe, the top-selling husband and wife real estate sales team, have been honored as one of the 100 top-producing agent teams in metro Atlanta by being named to the COMMUNITIES Magazine Top 100 list. Known as the Monroe Team, the pair is based out of Prudential Georgia Realty’s South Cherokee Office, best known for covering the areas of Kennesaw, Acworth, Woodstock, Townelake, Marietta, Canton, South Cherokee County, and Cobb County. The team regularly makes the top 10 list with Prudential Atlanta/Georgia Realty and ranks in the top 1 percent of 43,000 Prudential agents nationwide, a placement that awarded them the Chairman’s Circle Diamond Award in 2001. The Monroe’s were also honored as top 100 Prudential Agents internationally.

The Monroe’s approach their real estate business by taking a very proactive, sincere attitude with all of their clients, from their recommendations about what has to be done to beautify the home, to pricing, to comments from other agents. John and Linda Monroe know this from personal experience; the real estate business is more than just putting signs in yards, typing listing information into a computer, and printing flyers. They know that it takes successful real estate agents to make selling houses look easy. John and Linda know that part of their success is due to their emphasis on customer service. They not only meet, but also often exceed, their customers’ expectations. And just as important as their honesty and accessibility is their attention to fine-tuning their marketing approach. They continually focus on niche marketing and customer service as the backbone of their success. They never stop fine-tuning these elements in order to give their customers the best buying and selling experiences possible.

ABREqual HousingMLSREALTOR


Prudential Georgia Realty real estate and homes for sale in Kennesaw, Canton and Acworth Georgia

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