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balloon mortgage
(redirected from Balloon payment mortgage)

    Also found in: Financial, Wikipedia 0.01 sec.
balloon mortgage
n.
A short-term mortgage in which small periodic payments are made until the completion of the term, at which time the balance is due as a single lump-sum payment.
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Balloon payment mortgages Available as fixed-rate or adjustable-rate loans, these mortgages are short-term loans, usually lasting five to ten years.
An Overview of Mortgage Choices by Joe Cline / Real estate industry community
There are several other types of home loans mortgages including balloon payment mortgages, negative amortization mortgages, and interest only mortgages.
Home Loans for the First Time by Ian Mcintosh / Finance and Investment community
Example 1: J purchased his home in 2004 for $450,000, financing it with a balloon payment mortgage loan from a local bank.
Short sale or foreclosure of a principal residence by Picha, Steve R.; Hiraldo, Yadira E. / The Tax Adviser
 
 
 
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