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On commercial multifamily properties 5 units and up, you can typically expect to have the bank request a balloon payment on the debt. In this video, James explains how you can quickly and easily get an estimate on what your monthly payments will be leading up until the balloon payment, as well as what that actual balloon payment will be when it comes due. You’ll learn how to utilize Bankrate.com to quickly and easily obtain this information during your preliminary evaluation and research process.
In this video you’ll learn:
- What a balloon mortgage is
- How to use Bankrate.com to figure out the details of your balloon mortgage
- How to determine what your payments will be up until the balloon payment
- How to determine what the actual balloon payment will be
- Action Step1
- Action Step2
- Action Step3
