Balloon Mortgage Financial Glossary
What is it? A mortgage with periodic installments of principal and interest that do not fully amortize the loan. The balance of the mortgage is due in a lump sum at a specified date in the future, usually at the end of the term.Finance Term Definition Added By: Gracie
The Balloon Mortgage definition has been viewed 3119 Time(s)!
Send To Friends!
If you'd like to send the Balloon Mortgage definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Balloon Mortgage. If you need any more information on this term, please don't hesitate to contact us.
Other Similar Finance Terms:
Financial Term Deed of Trust is An instrument used in many states in place of a mortgage. Property is transferred to a trustee by the borrower (trustor) in favor of the lender (beneficiary), and reconveyed upon payment in full.Financial Term Tenancy in Common is Co-ownership of a property by two or more people where each tenant has an equal interest and equal rights to the property. If one party dies, ownership can be passed to the remaining owner(s) via inheritance.
Financial Term Transfer Value is Instead of receiving a pension when leaving a work pension scheme, a member has the right to transfer the pension value to a scheme operated by a new employer or a personal pension plan.
Financial Term Acquisition is The act of one business acquiring the shares or assets of another business.
Financial Term Credit Rating is A published ranking, based on detailed financial analysis by a credit bureau, of ones financial history, specifically as it relates to ones ability to meet debt obligations. The highest rating is usually AAA, and the lowest is D. Lenders use this information to decide whether to approve a loan.