Definitions

1. A balloon mortgage is a non-amortizing loan.
2. A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. (Web site)
3. A balloon mortgage is one which will be payable in full before the full term expires.
4. A balloon mortgage is typically a loan which must be paid off after a certain period. (Web site)
5. With a balloon mortgage, a lump sum payment ("Balloon Payment") is due at maturity. (Web site)

Home Buyers

1. A balloon mortgage can be an excellent option for many home buyers. (Web site)

Fixed Rate Mortgage

1. Like an ARM, interest rates on a balloon mortgage are typically lower than on a fixed rate mortgage.

Junior Mortgage

1. A balloon mortgage can be a senior or junior mortgage; i.e., a first or second mortgage. (Web site)

Principal

1. Balloon Mortgage - A real estate mortgage that has a substantial amount of the principal due at the maturity of the balloon mortgage.

End

1. Balloon Payment: The balance of the entire loan amount that is due in one final large payment at the end of a balloon mortgage. (Web site)

Final Lump Sum Payment

1. Balloon payment The final lump sum payment that is due at the termination of a balloon mortgage. (Web site)

Remaining Balance

1. Balloon Mortgage - This is where the remaining balance must be paid in full at the end of a pre-set term.

Mortgage Loan

1. Balloon Mortgage: A type of mortgage loan in which monthly payments are made until a certain date and then the remaining balance becomes payable in full.
2. Balloon Mortgage - a mortgage loan that requires a large payment due upon maturity (for example, at the end of ten years).
3. Balloon Mortgage: A type of mortgage loan with a fixed rate that is usually short term. (Web site)

Specific Point

1. Balloon mortgage A mortgage loan that requires the remaining principal balance be paid at a specific point in time. (Web site)

Term

1. BALLOON PAYMENT The final large payment at the end of a balloon mortgage term. (Web site)
2. Balloon Mortgage: Any mortgage that has amortized payments due for a specified term but has a lump sum payment due at an earlier stated term.

Payment

1. Balloon Mortgage: A fixed-rate mortgage for a set number of years and then must be paid off in full in a single "balloon" payment. (Web site)

Lower Interest Rates

1. A Balloon Mortgage offers lower interest rates for shorter term financing, usually five or seven years.

Final Payment

1. Balloon payment: The final payment in a balloon mortgage. (Web site)

Loan

1. BALLOON MORTGAGE A mortgage loan in which the monthly payments are not large enough to repay the loan by the end of the term.
2. Balloon Mortgage - A mortgage loan with an amortization schedule longer than the maturity of the loan. (Web site)
3. However, with a balloon mortgage, the loan must be paid in full in 5 or 7 years.

Amortize

1. Balloon mortgage: A mortgage loan with periodic payments of principal and interest that do not completely amortize the loan. (Web site)

Mortgage

1. Balloon Mortgage A mortgage in which monthly installments are not large enough to repay the loan by the end of the term. (Web site)
2. Balloon mortgage A mortgage which is payable in full after a period that is shorter than the term.
3. Balloon mortgage: A mortgage that typically offers low rates for the first 3 to 10 years, at which point the principal balance needs to be paid in full. (Web site)

Maturity Date

1. The final payment that is made at the maturity date of a balloon mortgage and pays the loan in full.

Balloon Payment

1. Balloon payment A balloon mortgage is one where a lump sum, the balance of the loan principal, becomes payable at the end of the term. (Web site)
2. Balloon Payment The final lump sum payment that is made at the maturity date of a balloon mortgage. (Web site)
3. Balloon payment The final lump sum payment due at the end of a balloon mortgage. (Web site)

Balloon Mortgage

1. Balloon Mortgage - A mortgage that is amortized over a specific period of years, but requires a lump sum payment in full at an earlier date.
2. Balloon Mortgage: A mortgage with periodic installments of principal and interest that, at the end of such a period, do not fully amortize the loan.
3. Balloon mortgage A mortgage that has level monthly payments that are insufficient to fully amortize the principal and interest within the term of the loan. (Web site)

Categories

1. Balloon Payment
2. Maturity Date
3. Amortized
4. Law > Rights > Property > Mortgage
5. Specific Period
6. Books about "Balloon Mortgage" in Amazon.com
   

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