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All agents are NOT alike! Find out why I am one of the top 5 area real estate experts. Call me: 913-381-6789 or 800-291-1302...SHARON SIGMAN
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The Best Mortgage Calculators On the Web!
Please try my 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.
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.
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Sharon Jagoda Sigman
WEICHERT, REALTORSŪ - Graham Welch
5267 West 95th St.
Overland Park, KS 66207
913-381-6789
Toll Free: 800-291-1302
Property Hotline: 913-381-6789
Fax: 866-714-4532
Email: Sharon@HomesInKansasCity.com
As a native to Kansas and a former local high school English teacher in the Shawnee Mission school district, I am able to give buyers extra assistance and information on schools and the city. My license plate "REALTOR" lets everyone know my profession. My customers find that I am easy to work with and an excellent negotiator. My slogan "choose this LEFT handed realtor to help you make the RIGHT move" expresses my desire to help my buyers find the right home or my sellers to find the right buyer for the best price and terms.
I have had my brokers/realtors licenses for over 22 and have consistently been one of the top 10 realtors in the city on both the Kansas and Missouri sides. I hold various designations and degrees: CRS (certified real estate consultant), ABR (accredited buyers agent), SRES(senior citizen representative), CSP (certified new sales consultant-to build) and e-PRO. My education consists of BA and Masters from University of California at Berkeley. I have 3 daughters, 1 dog and 1 cat. My recently licensed Schipperke, Skipper, was rescued by me from a local animal shelter so he helps me find some DOG GONE good homes for my clients. I belong to various organizations like Friends of Art, Friends of the Zoo, Native Sons of Kansas City, Hadassah, Brandeis, local and national realtor organizations. My hobbies are art, traveling, reading, working out, and horse back riding. My other web sites are www.sharonsigman.com www.realestateinoverlandpark.com www.isellkansashomes. www.homesinkansascity.com. I have a toll free 800 number ( 800-291-1302 )that follows me wherever I go.       
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