Hard Money Lender Converts to Amortized Loan ?

[Brad Ecret]

There is a company in Florida and they state on their website :

17-YEAR TERM / NO PRE-PAYMENT PENALTY

We realize that every investor’s agenda is different. For most of our clients, it’s a Fix-and-Flip, or is it a Buy-and-Hold. Either way, EM's loan framework is suited for you, the investor. Our loan term is a full 17 years with ZERO PREPAYMENT PENALTY if borrowers make their payments on time. Why deal with a 1 or 2-year balloon if you don’t have to. For our investors who prefer to rent their properties for immediate cash flow, our long-term loan affords you the comfort knowing that there isn’t a short-term balloon hanging over you, so you can effectively and successfully manage your investments.

Has anyone ever heard of that? Is there a lender that does that in NJ?

thanks!