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Balloon mortgage
Balloon 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.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Balance
The appraisal principle that states that the greatest value in a property will occur when the type and size of the improvements are proportional to each other as well as the land.
Borrower
A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.
SIMILAR TERMS--------------------------------------
Balloon loan
Mortgage in which the remaining principal balance becomes fully due and payable at a predetermined time.
Balloon or bullet loan
A loan with a maturity that is shorter than the amortization period.
Balloon payment
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.
Balloon risk T
The risk that a borrower will not be able to make a balloon (lump sum) payment at maturity due to a lack of funding.
Balloon-frame construction
A type of framing used in two-story homes in which studs extend from the ground to the ceiling of the second floor.
Bally property
Property in Bally, India. Apartments, flats, houses, offices and other property in Bally.
PREVIOUS AND NEXT TERMS--------------------------------------
Balance
The appraisal principle that states that the greatest value in a property will occur when the type and size of the improvements are proportional to each other as well as the land.
Balance sheet
A report of financial condition, including assets, liabilities and net worth.
Balanced trust
A "combination trust" is referred to as a "balanced trust" in California.
Balcony
A part of the building usually enclosed by a railing or balustrade that projects from either an inside or outside wall of a building.
Balloon loan
Mortgage in which the remaining principal balance becomes fully due and payable at a predetermined time.
Balloon mortgage
Balloon or bullet loan
A loan with a maturity that is shorter than the amortization period.
Balloon payment
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.
Balloon risk T
The risk that a borrower will not be able to make a balloon (lump sum) payment at maturity due to a lack of funding.
Balloon-frame construction
A type of framing used in two-story homes in which studs extend from the ground to the ceiling of the second floor.
Baluster
Any of the vertical supports for a stair, balcony or railing.
This dictionary contains 6433 terms. |
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