Beaufort real estate and homes for sale in South Carolina - Maureen Corbin-Cooley, REALTOR® Maureen Corbin-Cooley REALTOR(r) for Beaufort, South Carolina real estate - NUMBER1EXPERT™ Maureen Corbin-Cooley NUMBER1EXPERT(tm) for Beaufort, South Carolina real estate

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Maureen Corbin-Cooley, REALTOR®, real estate agent and broker for Beaufort South Carolina home listings, property and land for sale - NUMBER1EXPERT(tm)
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Mortgage Calculators: Beaufort South Carolina home buying, real estate listings, and homes for sale in Beaufort County, SC
Welcome > Resources > Mortgage Calculators > Balloon Mortgages ...


The Best Mortgage Calculators On the Web! 

Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep... 

Are Balloon Mortgages For You?

A balloon mortgage can be an excellent option for many home buyers. A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. They often have a lower interest rate, and can be easier to qualify for than a traditional 30 year fixed mortgage. There is, however, a risk to consider. At the end of your loan term you will need to pay off your outstanding balance. This usually means you must refinance, sell your home or convert the balloon mortgage to a traditional mortgage at the current interest rates.

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Definitions

Mortgage amount
Original or expected balance for your mortgage.

Interest rate
Annual interest rate for this mortgage.

Term in years
The number of years over which you will repay this loan. The most common balloon mortgage terms are 5 years and 7 years. After the mortgage term is complete, you will then need to refinance or pay off the remaining balance.

Monthly payment
Monthly principal and interest payment (PI). The monthly payment is calculated using a 30 year term.

Total payments
Total of all monthly payments over the term of the balloon mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest
Total of all interest paid over the term of the balloon mortgage. This total interest amount assumes that there are no prepayments of principal.

Prepayment type
The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.

Prepayment amount
Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.

Start with payment
This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation.

Savings
Total amount of interest you will save by prepaying your mortgage.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.




Maureen Corbin-Cooley, REALTOR®, real estate agent and broker for Beaufort South Carolina home listings, property and land for sale - NUMBER1EXPERT(tm)

Maureen Corbin-Cooley
Corbin-Cooley Realty

322 Westbrook Road
Dataw Island, SC 29920
Phone: 843 838 1234
Fax: 843 838 7777
Mobile: 843 812 5435
Email: maureencooley@NUMBER1EXPERT.com

Maureen grew up in a Navy family. After graduating from Massachusetts General Hospital School of Nursing, Boston University, and California State University Hayward, she and her husband spent most of their careers working for the U.S. government in Europe. Maureen’s final assignment was in Beaufort where she and Bill fell in love with the low country and decided “this was the place”.

When Maureen retired from government service, she immediately pursued a career in real estate. Within two years she earned three special designations, GRI, CRS and ABR, and launched into a successful career in record time. Her long hours of study and hard work paid off in a loyal clientele and a reputation as an honest, friendly, and hardworking realtor.

Maureen works as hard for the little guy as she does for her high-end clients, believing earnestly that everyone deserves the best, and everyone is important to her. As an experienced realtor, she knows the inventory, knows the town, and knows the best people to get the best results for her clients. Maureen leaves no stone unturned when working for her clients and always pays close attention to her clients’ requirements as well as their desires. She is tireless in her efforts to find her buyers just the right house and to get her sellers the best possible price. She communicates frequently with her clients and above all else listens to their requests.

Maureen loves her work. She has a wide range of friends and acquaintances stemming from her church work, membership in Rotary, Beaufort chorale, kayaking groups, and swimming club. In addition she is a devoted wife and mother, an avid reader, an enthusiastic swimmer, and a “sometime” golfer.

Call her if you have any real estate needs. She will be pleased to answer questions, set up appointments, and make suggestions where needed. Maureen says “people are her first priority”. Depend on it and give her a call.

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