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Balloon loan
A mortgage in which monthly installments are not large enough to repay the loan by the end of the term. As a result, the final payment due is the lump sum of the remaining principal.
Related Terms
Balloon payment
Balloon-frame construction
Loan origination fee
Conventional loan
Interest
Bridge loan
Loan -to-value ratio
Loan processing fee
Maximum financing
End loan
Loan application
Loan commitment
No-documentation loan
Origination fee
Junior mortgage
Cash-out refinance
Discount points
Secured loan
Unsecured loan
Interest-only loan
Point
Low-down-payment loan
No cash-out refinance
Two-step mortgage
Annual Percentage Rate (APR)
Step-rate mortgage
Home equity loan
Construction to permanent loan
FHA loans
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