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Mortgages: Fixed Rate 5 Year BalloonYour interest rate and monthly payments are fixed for five years. The payments are based on an amortization of up to 30 years. In other words, for five years, the loan acts like a fixed-rate mortgage. At the end of five years, you must refinance by either paying off the loan or refinancing the outstanding balance at the rates and terms available at that time. If you refinance with BTFCU, there will be minimal paperwork and costs. Click here for current loan rates. Call us (610-691-0041) for more information. |
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Copyright © 1999-2008 Bethlehem Teachers Federal Credit Union. |
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