On 11 Feb 2004 18:39:59 -0800 (Mike Long) wrote:

"R.Hubbell" wrote in message news:20040211082332.08bd1965@fstop...
On 11 Feb 2004 04:50:47 -0800 (Mike Long) wrote:

"R.Hubbell" wrote in message news:20040210203318.10c9d7f7@fstop...
On 10 Feb 2004 04:51:58 -0800 (Mike Long) wrote:

Jet Dollars will do 15 years at 4% variable, balloon at 5 years, 10%

Variable would be dicey right now, looks like rates may go up.
What percentage is the balloon?

The variable would be unlimited. Ie, if the rates went to 20%, so
would the note. Remember 18%? Ouch. However, one can guess rates will
go up at a reasonable pace.


Sure I understand what a variable rate is, what's the balloon payment
at 5 years?

$128,350 on a $195,200 purchase price
$65,723 ON A $100,000 purchase price

Ok, well that sure prevents going inverted on the loan. Or at least
it lessens the likelihood greatly.


R. Hubbell


Mike