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#1801510 - 04/04/13 04:48 PM New to balloon loans
elebra Offline
100 Club
Joined: Apr 2009
Posts: 106
With all of the hype about higher priced balloon loans, I'm hesitant about balloon loans at all. If we do a balloon loan that is NOT higher priced, is that still ok? Or will that be changing too?
Last edited by elebra; 04/04/13 04:49 PM.
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Lending Compliance
#1801556 - 04/04/13 06:09 PM Re: New to balloon loans elebra
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
Right now balloon loans are ok. The new Ability to Repay rules that the CFPB releases may make it harder to make a balloon loan as it is not a qualified mortgage. If you operate predominately in a rural area as defined by the CFPB there is a rural balloon payment qualified mortgage exemption.

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#1801615 - 04/04/13 07:43 PM Re: New to balloon loans elebra
elebra Offline
100 Club
Joined: Apr 2009
Posts: 106
Thank you ahkcompliance, that gives me a place to start looking!!

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