I have been fielding many questions regarding the newest Federal Housing Finance Agency (FHFA) fee structure and how it affects your borrowing potential. I will try to answer some of the most common questions.
A balloon payment is a lump sum payment that is significantly larger than the monthly payments and paid at the end of a loan’s term. Unlike loans that have a series of fixed payments to pay off the balance of the loan, a loan that includes a balloon payment is made up of lower fixed payments and a final larger payment.
The U.S. Small Business Administration (SBA) helps small businesses lock in funding by setting guidelines for loans and reducing lender risk. SBA loan programs provide financial support to small businesses by helping build capital, recover from disasters, purchase real estate, and more.
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