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Balloon mortgage |
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Balloon mortgageA 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 MatchesShared Appreciation Mortgage (SAM)Shared Appreciation Mortgage (SAM)A mortgage with a low rate of interest, offset by giving the lender some portion of the appreciation in the value of the underlying property. Federal National Mortgage AssociationFederal National Mortgage Association(Fannie Mae): A tax paying corporation created by Congress to support the secondary mortgage market. It purchases and sells residential mortgages insured by FHA or guaranteed by VA as conventional home mortgages. Direct Reduction MortgageDirect Reduction MortgageAn amortized mortgage. One on which principal and interest payments are paid at the same time (usually monthly) with interest being computed on the remaining balance. Base rate tracker mortgageBase rate tracker mortgageA mortgage in which the rate of interest paid by the borrower follows movements in the base rate. Self build mortgageSelf build mortgageMortgage for those who wish to build their own home, renovate or convert their existing home. Funds are normally released in stages as work progresses following a satisfactory progress report from an architect. Further Suggestionsmortgage brokerMortgage Package mortgage Mortgage cash surplus Portable mortgage reverse annuity mortgage Government insured mortgage Mortgage broker Blanket Mortgage Tracker mortgages Collateralized mortgage obligation (CMO) second mortgage Low start mortgage Non status mortgage reverse mortgage Mortgage confirmation Second mortgage lending Wraparound mortgage Mortgage pipeline Mortgage Banker Interest only mortgages Standing mortgage Index tracker mortgage Purchase money mortgage graduated payment mortgage |
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