Balloon 2


Definition of "Balloon"

Robert Mercora
Robert Mercora Schiff Realty

The loan balance remaining at the time the loan contract calls for full repayment.

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Balloon Payment

Last installment payment, substantially greater than the previous installment payments. The unpaid balance of a long-term loan is paid off in a lump s ...

Balloon

(1) Type of loan where the final payment is substantially greater than the previous payments; also termed partially amortized loan. A debt agreement m ...

Home Equity Loans

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Loan having the last payment either (1) more than twice the amount of any other payment, or (2) a payment arising from the lenders call provision. The ...

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