Many balloon mortgages offer the option to convert to a new loan after the initial term.
Some programs which have government subsidies may have a recapture tax if you sell the house too early. Imperfect Credit Programs Potential for reestablishing credit if you pay your mortgage on time. Interest may be tax deductible Rates can change. The maximum interest rate is normally high. Los Gatos Lending Connection 19925 Stevens Creek Blvd.