(1) The final payment of a balloon note. (2) A landlocked parcel of land.
A mortgage that requires the remaining principal balance to be paid in full during a specified amount of time.
The principal balance of a mortgage loan outstanding on maturity of the term. A balloon mortgage is one which does not fully amortize over its term to maturity.
A large payment - usually at the end of the term. Used in Conditional sales Contracts as an attempt to offer similar payment structure to a lease with an option to purchase.
A mortgage that does not fully amortize over the term of the loan. Any remaining principal balance plus any interest and charges due at the end the loan term are called balloon payments.
a good way to keep the term short, and the payments low
a lump sum all due at one time
a short-term mortgage which requires the entire balance of the loan to be re-paid at the end of the loan term
Mortgage: a mortgage that typically offers low rates for an initial period of time (usually 5, 7, or 10) years; after that time period elapses, the balance is due or is refinanced by the borrower.
mortgage A real estate loan in which some portion of the debt will remain unpaid at the end of the term of the loan. A balloon will usually result in a single large payment due when the loan ends.
The principal amount representing the remaining balance due and owing in its entirety at an earlier point in time than would normally be required under the amortization period creating the payment schedule. For example, a $100,000 mortgage amortized at 10% over thirty years would have monthly payments of $877.57. If the terms required a balloon at the end of five years, the principal balance of the mortgage at that time would be $96,579.32 and that would be the balloon amount due. The payor would be required to pay the entire balloon amount at that time. Note: a balloon payment terminates the note obligation, as distinguished from a principal payment, which only reduces the balance even if it is in excess of regular monthly payments.
A date when the entire remaining principle balance is due.
mortgage A mortgage that has level monthly payments that will amortize it over a stated term but that provides for a lump sum payment to be due at the end of an earlier specified term.
(Payment) Mortgage Usually a short-term fixed-rate loan which involves a set interest rate for a certain period of time and one large payment for the remaining amount of the principal at the conclusion of a time specified in the contract.
A loan that has a series of monthly payments with the remaining balance due in a large lump sum payment at the end of the loan term.
Mortgage characterized by level fixed payments for a predetermined time frame followed by either a refinance or adjustment in interest rate
The loan balance remaining at the time the loan contract calls for full repayment.
When the final payment in a loan is greatly higher than prior payments.
That portion of a mortgage loan which is not amortized an payable in a lump sum at the end of the loan term.
The balance of principal that is due and owing in its entirety at a specified point in time, but in any event, less than the time required to fully amortize the debt.
The final payment (balance due) of a balloon note.
A loan which can be amortized over a period of time (typically 30 years) but where the principal comes due in full prior to the end of the term. Another type of balloon is when the loan converts from a fixed interest rate for a specified term (usually 3, 5 or 7 years) to an interest rate determined by the market for the remaining life of the loan.
The final payment on a mortgage, deed of trust or real estate contract when that payment is greater than the preceding installment payments and/or pays the loan in full.
Mortgage A mortgage loan that requires the remaining principal balance be paid at a specific point in time. For example, a loan may be amortized as if it would be paid over a thirty year period, but requires that at the end of the tenth year the entire remaining balance must be paid.
A loan which has a series of monthly payments (often for 5 years or less) with the remaining balance due in a large lump sum payment at the end.
Payment: Final payment on a debt that is substantially larger than the preceding payments.
Payment Mortgage Most of the time this is a short term fixed rate loan with smaller payments over a specified time and a single payment for the remaining principal at the time specified by the contract.
A mortgage which does not fully amortize over the term of the mortgage. The principal remaining at the end of the term is called a balloon payment.
The final payment on a mortgage, trust deed or land contract when that payment is greater than the preceding installment payments and pays the loan in full. Clear Title Title not encumbered or burdened with defects such as mortgages, unpaid taxes, or underlying liens.
A short-term loan which has a fixed rate and smaller payments for short-term period which is followed by one large payment for the balance of the principal.
Loan in which little, if any, of your monthly payments go toward paying off the outstanding balance. Rather, one large, lump-sum payment is due at maturity.
An instalment repayment structure for a securitisation transaction under which the final redemption of securities or the final repayment instalment is set at a greater amount than that of earlier redemptions or instalments.
Typically referring to a lease or loan payment stream whereby a large “balloon” or lump sum payment is do in some pre-set period during the financing term..
A mortgage-backed security (MBS) with periodic payments based on a 30-year amortization schedule, but with a balloon principal payment required at the end of five or seven years.