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About the Smith Mountain Lake, Virginia Area The Lake is a great place to be together as a family and that’s why I have made it home. We are treated to the beauty of the water against the mountains, moonlit cruises, watching sunsets, going to dinner by boat or seeing Sea Doos at play.
The informal lifestyle provides the slower pace that allows friendly neighbors to know each other. A few of the unique local opportunities include swimming, tubing, skiing, fishing and all the gatherings, cook outs and play on the beach that go with them. We also have ample tennis, golf and equestrian facilities.
People from all over the world bring diversity but move here not because they have to but because of their common interests in creating a relaxed lifestyle.
In addition to all the entertainment in the immediate area, the surrounding region is beautiful and is within easy driving distance to Washington D.C., Atlanta, Charlotte and Greensboro--mountains and snow skiing, ocean beaches and lots of cultural events.
It's my job to know EVERYTHING about Smith Mountain Lake! Ask me any question. Or request a FREE information package. There's no obligation, and I promise to get back to you quickly...
Financing Your Home >Balloon Mortgages
In loan terminology a "balloon" is the unpaid loan balance that must be paid in full on a specified due date. Federal savings and loan associations are permitted to make balloon mortgages with as little as five percent down and monthly payments that are smaller than the amount needed to fully amortize the debt. On the due date, which may be only a few years after the loan was made, the balance must be paid off or the loan must be renegotiated. Balloon borrowers must be cautious and plan carefully to avoid overlooking balloon payment obligations. It is easy to be lulled into complacency by the easy monthly payment terms.
Today's complex economics have produced a wide variety of options for potential borrowers, who are often surprised by how much house they can afford to buy. Loan approval is ultimately in the lender's hands, but your real estate agent can help you to determine your real buying power.
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What three things are necessary in order to purchase a home?
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Some cash, a dependable income and good credit. If you fall short, don't despair--homeownership may still be possible. |
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- NUMBER1EXPERT™ 
