Mortgage Glossary

Balloon (Payment) Mortgage
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 specific time.

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