USDA RD 10 year Balloon

[Chris Gonzalez]

I called on a house that was listed on USDA’s RD site. I was really interesting in the property but it had a pending all cash offer. Anyway I asked him about lending for investors, as at one time I have heard they do that sort of thing.

Anyway he stated they do a 10 year balloon mortgage with 5% down. Has anyone used this loan through RD?

If so can someone shed some light on the balloon? I know it’s due in 10 years but why wouldn’t you refinance sooner?

This is just one tire kicking finding idea I am curious about.