Popular Mortgage Terms

Balloon Mortgage Defined

Balloon Mortgage: a mortgage that typically offers low rates for an initial period of time (usually 5, 7, or l0) years; after that time period elapses, the balance is due or is refinanced by the borrower

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The definitions of the mortgage terms have been taken from various reliable government
publications and we have done our best to verify their accuracy. If you feel any of the definitions
are incorrect or needs to be updated please contact us and we will look into it.

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