Balloon loans
A balloon loan is a short-term fixed-rate loan with low, fixed payments for the short term period, but requiring a single large payoff, due at the end of the term (5, 7 or 10 years.) This can be advantageous if you plan on moving or selling within a few years. Even if you stay beyond the end of the short term of your balloon loan, you may be able to reconsider financing options at that time.
