Loans in which regular monthly payments are followed by a lump sum payment of the total outstanding balance. When the loan becomes due, a large sum or "balloon" payment is required to satisfy the mortgage.
A type of loan where the regular monthly payments are followed by a lump sum or "balloon" payment of the total remaining balance. More on balloon loans
Loans that the amortized term is greater than the due date of the loan. For example, 30 years amortized all due in 10 years. The payment is based on 30-year calculations.