balloon payment in English
noun
1
a repayment of the outstanding principal sum made at the end of a loan period, interest only having been paid hitherto.
The required payments are the monthly instalments of principal and interest under the loan, until the balloon payment comes due in March.
Use "balloon payment" in a sentence
Below are sample sentences containing the word "balloon payment" from the English Dictionary. We can refer to these sentence patterns for sentences in case of finding sample sentences with the word "balloon payment", or refer to the context using the word "balloon payment" in the English Dictionary.
1. A Balloon payment is an oversized payment due at the end of a mortgage
2. 28 They often end a large payment, a balloon payment, which owners usually refinance.
3. A balloon payment mortgage is a mortgage which does not fully amortize over the term of the note, thus leaving a balance due At maturity
4. Typically, the mortgage Amortizes over 30 years, but carries a "balloon payment," which means the loan must be repaid or refinanced after three to five years