Balloon mortgage

 

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Balloon mortgage

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.



Balloon mortgage

Similar Matches

Guarantee mortgage

Guarantee mortgage

A loan guaranteed by a third party, such as a government institution.


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Closed end mortgage

Mortgage against which no additional debt may be issued.


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Mortgage advance

The money loaned to the buyer, by the lender.


Mortgage incentives

Mortgage incentives

The lender may offer a discount or fee-free period on buildings insurance, accident and sickness insurance, redundancy insurance, or payment protection insurance. This is often done to encourage you to take up the policy, which you are then fairly likely to keep in the longer term. Other common incentives include a free valuation and money towards solicitor's fees.


Strip mortgage participation certificate (strip PC)

Strip mortgage participation certificate (strip PC)

Ownership interests in specified mortgages purchased by Freddie Mac from a single seller in exchange for separate instruments representing interests in the same mortgages.


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