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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 MatchesGuarantee mortgageGuarantee mortgageA loan guaranteed by a third party, such as a government institution. Closed end mortgageClosed end mortgageMortgage against which no additional debt may be issued. Mortgage advanceMortgage advanceThe money loaned to the buyer, by the lender. Mortgage incentivesMortgage incentivesThe 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. Further SuggestionsFederal National Mortgage AssociationAlternative mortgage instruments Lehman Brothers Adjustable Rate Mortgage Index Lehman Brothers Mortgage Backed Securities Index Mortgage lien Cooperative mortgages Full status mortgage Direct Reduction Mortgage Remortgage Mortgage servicing first mortgage Mortgage pipeline risk Stripped mortgage backed securities (SMBS) Mortgage code arbitration scheme shared appreciation mortgage One hundred percent mortgage Wholesale mortgage banking Council of Mortgage Lenders mortgage broker Blanket Mortgage First mortgage Gnma (government National Mortgage Association) Options mortgage Chattel Mortgage Wraparound mortgage |
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