what is a balloon note and how does it work?

I found realistate me and my girlfriend wants to have land purchase.we forsale.ia been told that we could get a loan on the property we have to buy the goods we are eager to own balloon note.how it work?

Usually they are 5 or 7 years balloon loans. That means you get a low rate for 5 or 7 years but must the mortgage balance at the end of 5-7 years. It happens whether you're rich, or wait for a large sum of money in the near future. If not, you should find a place for you to refinance immeadiatley now or risk losing your home.

balloon loan