Definitions for **"balloon payment"**

A large, lump-sum payment scheduled at the end of a series of considerably smaller...

A loan where the payments don't pay off the principal in full by the end of the term. When the loan term expires (usually after 5-7 years), the borrower must pay a balloon payment for the remaining amount or refinance. Balloon loans sometimes include convertible options that allow the remaining amount to automatically be transferred into a long-term mortgage. (See Convertible ARM)

Amount of loan principal remaining unamortized and outstanding at the end of the mortgage term.

The principal payment on a balloon maturity. See: BALLOON MATURITY.

An inflated payment that comes due at an agreed upon time, usually at the end of the loan term.

The final payment terminating a debt, in which the amount paid is substantially more than preceding payments.

The final large payment at the end of a balloon mortgage term.

A larger than usual payment used to pay off the outstanding balance of a loan without penalty.

a large loan repayment usually at the end of the loan term.

a relatively large principal payment due at a specific time as required by a lender.

The final payment on a loan, when that payment is greater than the preceding installment payments and pays the loan in full

A balloon payment is when the last payment on the loan is large so that the regular monthly payments can be smaller.

Some loan and finance agreements have lower repayments than normal in return for a high final payment. This is called a balloon payment.

A contract that usually calls for payments at regular intervals with any unpaid balance (balloon) due on a specified date.

An obligation, loan or mortgage providing for routine smaller installments with a large final (balloon) payment to be made at maturity or at specified intervals.

the final payment on a loan or the final payment on a note.The balloon payment tends to be larger than previous installments, as it is often used by debtors to finally pay off an obligation.

Installment note final payment that is greater than preceding payments and that pays the note in full.

A lump sum principal payment due at the end of a mortgage.

A large payment at the end of lease or a loan.

The final payment terminating a debt, in which the amount paid is substantially more than previous instalments.

A mortgage that has level monthly payments that will fully amortize it over a specified period, but which provides for a balloon payment to be due at an earlier specified term.

A substantial final payment on a note which includes the outstanding principal balance and all accrued but unpaid interest.

Balloon payment is due at the end of the loan term. The intention behind making a balloon payment is to save on the interest charges.

A large payment that is due after several small payments. After making a prespecified number of payments you will a one large (ballon payment) due at the end of the term which is the balance of the loan.

This is a scheduled payment (usually the last payment) on a secured loan that is larger than any of the previous payments. Lenders do this to make the regular monthly payments more affordable. Carefully check any lending agreement to ensure you can afford to pay any balloon payments.

The lump sum payment of the balance due at the end of the term of the note.

Under an installment loan, a final payment that is substantially larger than any other payment and repays the debt in full.

Final payment on a loan that is greater than the previous monthly installments. This pays off the loan entirely and in full.

The final payment for the remaining balance, due at the loan's maturity date in the case of a balloon mortgage.

The last payment of a loan that is much larger than any of the other regular payments.

A provision in a loan which requires the principal balance to be paid off in a lump sum before the loan would be retired through normal amortization.

A lump-sum payment that may be required at the end of some mortgage loans, or at a specified period of time (e.g. 5 years into a loan).

The final payment of a " Balloon Note" mortgage usually extinguishing the debt.

A final payment on a note. It is usually substantially larger than any of the preceding installments.

The final payment paid to the bank on a balloon note.

A loan with a "balloon payment" provision is a loan that requires the borrower to make a large, lump-sum payment at a specified time.

Principal balance due on the Maturity Date, if a fixed rate loan and not fully amortizing

If you arrange your car loan using the PCP method, you can opt to make a final payment to purchase the car. This can be as much as 30% to 40% of the value of the car.

A final debt payment in full settlement of the debt. It is usually significantly larger than the instalment amount.

A balloon payment is where a certain pre-determined lump sum is payable during the term or at the end of a mortgage.

The final payment of a car leasing agreement that reflects the expected value of the vehicle. A balloon payment should result in lower monthly repayments but in some instances the balloon payment may be greater than the car's value.

If a borrower wants to discontinue with monthly repayments and pay the remaining balance of auto loans at once, then he can save tremendously in terms of interest cost. Paying of auto loans at once is known as balloon payment.

Balloon loans require a single, lump sum payment at the end of the loan term. This is usually a larger amount and the borrower often takes another loan to make the payment.

a principal payment coming due before the loan is fully amortized.

When credit is advanced by note or contract and payment is required in regular equal installments and the note or contract will mature before the note or contract is paid in full., a payment which may be larger than the regular payment will fall due. This larger payment is called a "balloon payment''.

A mortgage loan which is amortized for a set number of years but becomes due in full at a shorter term than the amortized term.

a large repayment made to pay off a loan.

A lump-sum final payment of a loan. It reflects the entire remaining balance of a shorter term loan (e.g., 5 years) which is amortized over a longer term (e.g., 10 to 20 years).

One installment payment on an amortized note that is at least double the amount of a regular installment. Frequently this is a final payment on this due date.

A debt repayment plan wherein the installments are less than those required for full amortization of the loan, with the balance due in a lump sum at maturity. Technically, a final payment greater than two monthly payments.

A scheduled payment of a mortgage that is larger than other, periodic payments, usually the un-amoritized final payment.

A final payment, usually on a lease purchase plan, that finally transfers ownership from the finance company to you.

A balloon payment is the balance due at the end of the loan term if the loan is not fully paid off. If the loan term is very short (e.g., five years) and monthly payments are calculated as though the loan would last 30 years, a ballon payment will be due at the end of the term. The buyer must pay the total amount remaining or risk foreclosure. See also Self Amortization.

The unamortized principal of a mortgage or other type of loan, which is paid off in a lump sum.

The last payment of a loan that is much larger than the preceding payments. This can occur in FFELP loans if regular payments are not made in a timely manner.

The final lump sum payment that you make at the end of the mortgage term.

A final payment on a loan that was not fully amortized. This payment is larger than the required periodic payments, and pays off the loan in full.

An installment payment which is larger (most often much larger) than the other scheduled payments. It is usually the last payment. If a note is written for $50,000 at a fixed 9.0% rate of interest with payments based on an amortization schedule of 30 years and a balloon payment due in 5 years, the first 60 payments will each be $402.31 (the normal payment for a 30 year loan at 9.0% interest) and the last payment will be $47,940.15 which will be the outstanding balance remaining after the 60th payment.

A loan payment, usually much larger than regular payments, required pursuant to the provisions of a balloon loan.

The lump sum payment that is due on a balloon mortgage prior to the full term of the loan

The final installment on a loan which is greater than the prior payments and pays any remaining amount outstanding under the loan. For example, a loan calls for equal monthly payments of $500, where most of the payment is for interest. At the end of the loan a balloon payment of $100,000 is due.

A large payment at the end of the loan allowing smaller payments to be made during the term.

Paying off a note with a final installment, which is larger than the preceding payment.

Usually a short-term fixed-rate loan which involves small payments for a certain period of time and one large payment for the remaining amount of the principal at a time specified in the contract.

Also known as 'Final Payment', 'Residual Payment' and 'Guaranteed Future Value' (GFV)

The unpaid principal amount of a mortgage or other long-term loan due on a specified date in the future. Usually the amount that must be paid in a lump sum at the end of the term.

The final payment of a mortgage which is larger than the regular payment; it usually extinguishes the debt.

The unpaid principal amount of a mortgage loan due upon its maturity which must be paid in full at that time.

A payment or installment that is made at the end of a specified loan term to pay off the remaining principal. This payment is larger than the regular payments that are made throughout the term of the loan.

A final installment payment, larger than previous installments, that pays off a debt.

A balloon payment is an installment payment that is larger than the other scheduled payments. This payment is usually the last payment of the loan.

The final payment, usually a lump sum that is due on the maturity of the mortgage.

This is the very large payment that is due at the end of some loans. A balloon payment means that the borrower's monthly payments are used to pay the interest on the loan and that little of the payment is used to pay back the amount that was borrowed. Unless you know how you will make this payment, these loans can be risky.

An instance in which the final installment payment on a note is greater than the preceeding payments, and pays the note in full.

A scheduled payment due at the end of a loan term that is substantially greater than the regular monthly payments. This may be a very large payment. It is designed to occur when the regular payments do not pay off all interest and principal owing (not fully amortizing) on the loan over the term of the loan.

A (generally large) principal payment due all at once at the end of some loan term.

A payment against the principal of a loan which exceeds the regular payment.

A final payment of a note which is greater than the preceding installment payments. generally, any final payment that is twice as great as the smallest installment payment.

a payment or series of payments that are lump sums applied to the reduction of debt.

A large final payment due at the end of a loan or lease. (Allows lower monthly payments.)

the large payment at the end of a PCP.

Final installment payment larger than preceding installment payments on a promissory note.

A final payment incorporated into a Contract Purchase or Personal Contract Purchase agreement. This is set at the start of the contract.

one large payment for the remaining principal balance of a mortgage, due at a time specified in the contract.

A final lump sum payment made at the end of a payment schedule.

The final payment of a finance agreement.

The final lump sum due at the end of the balloon loan or mortgage.

A large one off loan repayment to clear a debt. Typical at the end of an Interest Only term.

The final lump sum payment that is made at the maturity date of a balloon mortgage.

At the maturity of a loan, a large lump-sum payment representing the entire loan principal and any accrued interest.

At the end of a loan or lease a large final payment is due. This allows a lower monthly payment.

A balloon payment is a type of payment schedule when after a series of periodic payments, a large lump sum is scheduled and required at the end. Prosper loans do not involve a balloon payment. Prosper loans are fully-amortized loans.

A lump sum payment made on or before the maturity date of a balloon mortgage.

A lump-sum payment that you may be required to make under a plan when the plan ends.

A large lump sum paid at the end of a loan to clear a debt.

certain borrowers, instead of making a payment through monthly instalments over the specified term, pay the car loan as a lump-sum. This is known as balloon payment.

The final payment that is made at the maturity date of a balloon mortgage and pays the loan in full.

A single, large payment made at maturity of a partially amortized mortgage to payoff the debt in full

A large payment due at the end of the loan term to pay off the balance. Some borrowers agree to a balloon payment in exchange for a lower interest rate – and lower monthly loan payments.

The final payment of a loan that has a longer amortization period than term. For example, if a monthly payment is based on a period of 10 years, but the actual term is 5 years, a large payment (roughly half of the loan amount) is due with the final payment at the end of 5 years.

the final years loan payment containing the majority of the principal balance due

A lump sum payment on a hire purchase or conditional sale agreement once some monthly payments have been made.

When the final payment on a note is greater than the preceding normal installments, the final installment is termed a balloon payment. An installment promissory note providing for the last payment to be much larger than any previous payment. By statute, any payment more than twice the smallest payment is a balloon payment, although in practice generally the term refers only to the last payment.

A payment that is required at a set period upon loan application. This would be an option with certain loan programs.

The large last payment due at the end of a loan or lease. (Allows a lower monthly payment.

Any payment on a note that is greater than the smallest installment payment.

a large final payment to acquire ownership of merchandise or to pay for service.

The final installment paid at the end of the term of a note; used only when preceding installments were not sufficient to pay off the note in full.

A mortgage obligation which has a balance due and payable at the end of the mortgage term which is greater than one installment payment. The final balloon payment wipes out the remaining balance.

A large payment due at the end of a loan contract. Equal to the remaining principal balance plus any interest and charges due.

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 (also called balloon mortgage).

A large principal payment that typically becomes due at the conclusion of the loan term. Generally, it reflects a loan amortized over a longer period than that of the term of the loan itself (i.e. payments based on a 25 year amortization with the principal balance due at the end of 5 years). See " Bullet Loan".

The final payment that is due at the end of a balloon mortgage. (This may be most or all of the initial sum borrowed.)

A payment on a loan that is unusually large in comparison to the other payments on the loan. A balloon payment is usually the final payment on a loan.

A final payment at the end of a loan term that is considerably larger than the regular periodic payments. Often associated with a second mortgage.

The final payment of a note or obligation, which is substantially larger than the previous installment payments, and which repays the debt in full; the remaining balance which is due at the maturity of a note or obligation.

A balloon mortgage is one where a lump sum, the balance of the loan principal, becomes payable at the end of the term. A mortgage can be interest only with the whole principal due at the end of the term or it may be calculated to amortize over a longer period, say 30 years, but with the outstanding principal balance payable at the end of, say, 10 years.

the amount due when a mortgage becomes due, which is excess of normal installment payments.

Under an installment loan agreement, a final payment that is substantially larger than the previous installment payments and repays the debt in full; the remaining balance that is due at maturity (stop date) of a note or obligation. (See amortization, fully amortized, stop date)

A large loan payment to clear a debt.

A repayment of a loan bond, usually but not necessarily the final repayment, which is larger in amount than other installments.

1) The single, large payment which pays out the balance due on a balloon mortgage.2) A large principal payment due alL at once at the end of some loan terms, i.e. 24th month of loan, balance is due.

A lump sum payment for the unpaid balance of the loan.

An installment payment on a loan that is usually a larger payment and due on a specified date.

A payment that is larger than the amount of other loan installments and is due at a time specified by a loan agreement. A balloon payment may occur at any time during the term of a loan; however, it is typically the final payment.

Final payment of a debt that is much larger than the payments preceding it.

the final payment in an installment plan which is bigger than the previous installments and which liquidates the entire obligation.

The final payment on a loan, which is significantly larger than the regular payments.

A large payment on a note usually due at the end of the payment schedule.

A loan with monthly payments insufficient to pay off the balance in the specified term; the balance must be paid in full when the loan comes due.

The final payment on a loan, usually substantially larger than previous payments, because the payments were not large enough to fully amortize the loan.

A large final payment due at the end of a loan, typically a home or car loan, to pay off the amount your monthly payments didn't cover. Many states prohibit balloon payments in loans for goods or services that are primarily for personal, family or household use, or require the lender to let you refinance the balloon payment before forcing collection.

A final lump-sum payment that includes remaining unpaid principal. The extra payment extinguishes the debt.

Within the mortgage loan arena, this term is used to identify a payment made that is significantly larger in size than any of the previous payments. Typically, this is a lump sum payment used to pay off any remaining balance that exists.

The unpaid principal amount of a mortgage or other long term loan due at a certain date in the future. A balloon payment usually is paid in a lump sum.

The final payment of a partially amortized loan that is considerably larger than the required periodic payments.

A balloon payment is the final payment, usually a large sum, made at the maturity of a balloon loan.

When monthly payments are not sufficient to amortize the loan, there is a large, or balloon, payment to be made in a lump sum when the loan term ends. Sometimes the balloon payment is written into the mortgage loan; such should be avoided.

A large payment due on a loan. Generally a balloon payment is required when regular monthly or quarterly payments have not covered both the increase due and the principal of the loan.

An installment payment on a promissory note - usually the final one for discharging the debt - which is significantly larger than the other installment payments provided under the terms of the promissory note.

At the end of a mortgage or other long-term loan, this is a final lump sum payment that is due on the principal.

The final (large) payment that repays all the remaining principal and interest of a partially amortized or unamortized

A large payment due at the end of a loan. Using a balloon payment, the individual monthly payments can be smaller.

The unpaid principal amount of a mortgagee or other long-term loan due at a certain date in he future, usually the amount that must be paid in a lump sum at the end of the term.

The final payment on a contract which is significantly larger than those preceding it.

A mortgage that has level monthly payments which are insufficient to amortise the loan so that a balloon, or lump sum payment is due at the end of the term.

The final lump sum payment due at the end of a balloon mortgage.

The final lump sum that is paid at the end of the balloon mortgage.

A balloon payment is a lump sum due by the end of the loan, which will pay off the outstanding principle balance.

A lump sum principal payment due at the end of some mortgages or other long-term loans.

The last payment of a loan that is much larger than the preceding payments. When balloon payments occur, frequently the borrower cannot afford to pay the balance, necessitating the negotiation of another loan to pay off the first one. If there are to be balloon payments, this should be clearly stated in the loan contract.

Where the final installment payment on a note is greater than the preceding installment payments and it pays the note in full.

A final payment on installment debt that is much larger than the regular monthly payments.

The final payment on a balloon mortgage. Balloon Mortgage¿¡1/4 ¸¶Áö¸·¿¡ Ä¡¸£´Â Payment

a large, one-time payment that is due when a home equity loan expires to clear an outstanding balance.

A leasing, lease purchase term. Rentals are paid over the term of a lease with a larger rental known as a "balloon payment" usually paid at the end of the agreement, which reflects a figure based on the residual value of the equipment/vehicles being financed. This results in lower periodic rentals than under a fully amortised lease and can aid cash flow for the lessee.

A large final payment due at the end of a loan typically a car or equipment loan to pay off the amount that your monthly payments had not already covered.

A schedule payment on a mortgage that is larger than other, periodic payments, usually the unamortized final payment.

A final payment due at the end of a loan. The larger payment is the result of a loan being amortized over a period longer than the actual term of the loan.

Estimated final payment which covers the remaining expected value of the vehicle.

A principal sum coming due at a predetermined period of time (may also contain payment of accrued interest).

A large principal payment due all at once at the pre-determined end date of some loans.

A large payment made at the end of a lease. Use of a balloon payment in a lease will have the effect of reducing the periodic payment during the lease term.

A large lump sum payment of amortized premium and accrued interest at the end of the term of a loan in which the consecutive monthly installment payments are insufficient to amortize the entire principal and interest over its terms.

Final payment of a loan that is much larger than previous payments.

The final lump-sum payment to pay off a balloon mortgage's balance. The balance on a balloon mortgage is due in full typically between 5 to 7 years, after the day it starts. This last payment is a heap of money, and if you can't pay it off, you do have the option to sell or refinance, even though interest rates might be high. If you don't take any of these options, you're risking foreclosure. Some balloon mortgages do allow you to extend the loan in exchange for a higher rate.

A large extra and final payment charged at the end of a loan or lease.

Final payment on a debt that is substantially larger than the preceding payments.

A method of debt repayment in which the monthly installments are less than would be required for full amortization and the balance is due in a lump sum at maturity.

A final debt repayment that is substantially larger than the proceeding repayments.

Final installment payment of a promissory note larger than any single preceding installment payment.

The outstanding balance at term of a balloon loan.

A final lump-sum payment of unpaid principal remaining at the end of a Balloon Payment and in certain types of leases. The extra payment extinguishes the debt. See also Balloon Mortgage, Principal.

The unpaid, principal amount of a mortgage loan that is due on a specified date, and paid in a lump sum at the end of the term

the final lump sum payment of a balloon mortgage. Bankruptcy: court proceeding in a federal court in which a debtor who owes more than his or her assets can relieve the debts by transferring his or her assets to a court-appointed trustee.

A final payment of a mortgage loan that is considerably larger than the required periodic payments because the loan amount was not fully amortized.

A final debt payment, which is significantly greater than all the previous payments made.

A lump sum installment payment of a promissory note that is much larger than the regular installment payments.

A payment on a balloon morgage, that is larger than the other periodic payments, and pays off the remaining principal.

A large sum repaid as an irregular instalment of a loan repayment. This is similar to the 'residual value' but normally where you, the customer, can control the amount (only down from the 'residual value') so you can customise the control to suit your requirements.

any payment that is more than twice the amount of any other regularly scheduled equal payment.

The final payment under a balloon note, commonly r... Add a comment

The final repayment of principal on the maturity date of a loan when the final payment is larger than previous repayment instalments.

A large extra payment that may be charged at the end of a loan or lease.

making a large payment to clear a debt

A payment on a note whereby this installment payment is greater than the preceding installment payments, typically the final payment which pays off of the note balance if full.

A payment of a loan that extinguishes the debt.

A large lump sum final payment to pay off an installment note, where the previous payments were much smaller.

The final lump sum payment of a balloon loan.

When the final installment payment on a note is greater than the preceding installment payments that extinguishes the debt. back

A loan installment that is larger than the other, periodic payments and pays off the remaining principal.

The phrase balloon payment or bullet payment refers to one of two ways for repaying a loan; the other type is called amortizing payment or amortization.

Ballot

Baltimore Plan

Mortgage Note