Mortgage Glossary

7-Year Balloon Mortgage
The payment is calculated over a stated term and the balance must be repaid or refinanced at the end of the 7th year.

Mortgage Glossary - B
5-Year Balloon Mortgage 7-Year Balloon Mortgage Balloon (Payment) Mortgage Bank Draft Bankruptcy	Billing Error Binder or "Offer to Purchase" Borrower Bridge Loan Broker	Building Line or Setback Business Days Buydown