Hello everyone My name Is Ray 
It’s been a while since Jan. since I last posted.
Let me start by asking for help this Is my first time purchasing a home .
The purchase price Is $120,000 / Appraised at $150,000 Owner owe’s $100,000
I have been shopping for Mortgages for the past three months & credit pulled four times within those three months . My score has been averaging 620 / 623 going stated / with 100% approved financing & a 3 or 2yr ARM .
My dahlima Is the Balloon part when Its Due & worried because I would be loosing $$$ money $1000 amonth mortgage. I started thinking about maybe going to a Bank because of the Equity alone & going Stated would this be a better way for me to get Financed or Maybe do a Lease option & have the contract giving me the rites to lease to another FAMILY , or Owner Finacing ?.
God knows I have done my research for years & I know Its time for me to Florish
I dont want to loose this home & would like to see my Mortgage lower than $1000 amonth this home belongs to my Boss at work she Is basically helping me by lowering the price on the home so I can get started on becoming an Investor this does not come very often my way at all but I know a good Deal when its being handed to me .
I do appreciate any help at all also If you would like to contact me Cell no# 727-364-6886 By the way I am trying to do this as quickly as possible but I feel like I am being restricted by the Broker’s saying they are trying to FIT me In a Program at a higher rate & closing cost about $6 or $7000 ?
Anyway like I said the Ballon part of It worried me I should know better from what I have Read yrs ago about Balloons when they are Due but the broker’s tell me this would be best for me Instead of a 30yr or 15yr fixed ?
As you can tell I dont know wich way to go like a Human with his head missing very embarrissing I wish some one can guide me In the right direction thank you & God bless you guys for sharing yrs of hard work knowlegde