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by toast0
2488 days ago
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My understanding is that this style of loan, balloon payment mortgage, used to be common in the US too, but government intervention in the form of Fannie Mae loan purchases made the 30-year fixed loan widely available. As a borrower, there's a big risk with a balloon payment that you may not be able to find financing when it's due, so having a full term loan is very desirable. |
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