balloon mortgage
balloon mortgage Finance Definition
A
mortgage whose interest and principal payment wont result in the loan being
paid in full at the end of the mortgage term. The final payment on the mortgage
is significantly larger than the regular payment and is called a balloon payment. Balloon mortgages, as
well as balloon loans, often are used when the debtor expects either to
refinance the loan closer to maturity or expects a large cash infusion to pay off
the debt.
balloon mortgage
Law Definition
See mortgage.
Browse dictionary entries near balloon mortgage
- balloon catheter
- balloon angioplasty
- balloon
- ballonet
- ballon
- ballistocardiograph
- ballistocardiogram
- ballistics
- ballistic missile
- ballistic
- balloon note
- balloon payment
- balloon sail
- balloon tire
- balloon vine
- ballot
- ballot box
- ballottement
- ballpark
- ballplayer
