Definition of "Balloon loan"

Mike Renouf real estate agent

Written by

Mike Renoufelite badge icon

Landmark 24 Realty

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 term loan (or straight loan) is a form of balloon loan. See also balloon.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Same as term higher and best use: Use of a parcel of land that will produce the greatest current value. ...

Structure that has the same blue print and design as all the other homes in a given development; the opposite of custom built. ...

The right of a person or business to renew a contract. For example, the tenant may have the right to renew a lease for a specified amount and term. ...

An unpreventable, overwhelming, and irresistible force. It is common to place a force majeure clause in a construction contract to indemnify a construction deadline in the event an act of ...

Regularly, subsequent means something which occurs at a later date. In other words, a subsequent event follows a prior occurrence. For example, new circumstances arise after a contract is ...

Arrangement whereby a party providing financing gets a portion of the ownership. ...

Percentage of rentals estimated not to be made because of actual and anticipated vacancies. ...

Under a FHA-insured mortgage, both the property and the borrower must meet certain minimum standards. The borrower is charged an insurance fee of one-half percent on the unpaid balance and ...

Organization that manages the relocation of the employees of client companies from one area of the country to another. A relocation service will manage home sales and purchases in another ...

Popular Real Estate Questions