balloon payment

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balloon payment

n.
A final loan payment that is significantly larger than the payments preceding it.

balloon payment

n
(Banking & Finance) a large payment that concludes a series of smaller payments, for example in order to repay a loan
References in periodicals archive ?
28 and initially opened the program to businesses with immediate need due to impending balloon payments before Dec.
Commercial real estate mortgages often have balloon payments due as the mortgages terminate.
The Home Ownership and Equity Protection Act of 1994 restricts credit terms such as "balloon payments" and requires additional disclosures when total points and fees payable by the consumer exceed the fee-based trigger (initially set at $400 and adjusted annually) or 8 percent of the total loan amount, whichever is larger.
The new rule will allow loans to be rescheduled with balloon payments under certain circumstances, provided a current appraisal is performed.
Those balloon payments, by the way, helped many a retiree set himself up with a small business that was sometimes related to the former employer but was often quite different.
The Home Ownership and Equity Protection Act of 1994 restricts credit terms such as balloon payments and requires additional disclosures when total points and fees payable by the consumer exceed the fee-based trigger (initially set at $400 and adjusted annually) or 8 percent of the total loan amount, whichever is larger.
The Home Ownership and Equity Protection Act of 1994 bars credit terms such as balloon payments and requires additional disclosures when total points and fees payable by the consumer exceed the fee-based trigger (initially set at $400 and adjusted annually) or 8 percent of the total loan amount, whichever is larger.
In the past, Rappaport recalled, the lenders allowed co-ops to be over-burdened with debt service by granting huge underlying loans to sponsors, often with balloon payments. Once the market fell, the cooperators left holding the mortgage were unable to refinance.

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