You are buying this house for the next $10$ years until your kids will go to college and you will likely downsize the property. You cannot afford mortgage payments to fluctuate in the next $5-6$ years, and you want to minimize the balloon payoff at the end of year $10$ to pay for the college.

Which mortgage product should you choose to minimize the balloon payment when you repay at the end of year $10?$

Mortgage $1-30-$year fixed rate conventional mortgage

Mortgage $2-7/2$ adjustable rate mortgage

Mortgage $3-5/1$ adjustable rate mortgage

Mortgage $4-15-$year fixed rate conventional mortgage

Mortgage $5-10/1$ adjustable rate mortgage

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