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balloon mortgage |
A mortgage in which the borrower's monthly payments are amortized over a longer period than the actual term of the mortgage. As a result, at the end of the loan term or a specified due date, the borrower must pay off the remaining balance with a single lump sum payment (balloon payment), or refinance the loan. Would you like to add another definition for "balloon mortgage" to the Real Estate Dictionary? Terms that closely resemble "balloon_mortgage":balloon mortgage - A mortgage in which the borrower's monthly payments are amortized over a ...0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z |
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