MORTGAGE ADVICE
Balloon vs. Hybrid. Same? Different?
In the mortgage biz, there are a couple of terms that might sound a bit funny but in fact describe a particular type of home loan. These two terms, balloon and hybrid, do have similar characteristics but are slightly different from one another. So they’re not exactly the same, but pretty close.
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A balloon mortgage is rarely found today, at least in its
...David Reed
Writer
David Reed is a multi-published author and mortgage expert. As a Senior Loan Officer and Mortgage Executive he closed more than 2,000 mortgage loans over the course of more than 20 years in commercial and residential mortgage lending.