. – The term of a balloon mortgage is usually short (e.g., 5 years), but the payment amount is amortized over a longer term (e.g., 30 years). An advantage of these.
Construction loans are typically short term with a maximum of one year and have variable rates that move up and down with the prime rate. The rates on this type of loan are higher than rates on.
interactive house below, which highlights annual data from the Survey of Construction. All characteristics data, including estimates for new multifamily housing, are on our Characteristics of New Housing page.