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Balloon payment

The mortgage definition for Balloon payment:

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

Similar Matches

Additional principal payment

Additional principal payment
Extra money included in the monthly payment to help reduce the principal and shorten the term of the loan.


Annualised payment scheme

Annualised payment scheme
Although the borrower pays interest at a variable rate, which can change from month to month, the lender charges a set amount of interest each month and then adjusts the balance at the end of the year.


Early repayment period

Early repayment period
A period of time that applies to certain types of loan during which a charge will be made if the loan is repaid in full or in part or its terms are varied at the borrower's request.


Further Suggestions

Late payment
Monthly repayment
Mortgage payment protection insurance (MPPI)
Overpayment
Payment default
Payment holiday
Payment of balance


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Balloon payment
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