Mortgages & Loans

What is a Mortgage with a Balloon option ?

Answer:

A Balloon mortgage has regular monthly payments which amortize over a stated term, but it also calls for a final balloon payment or lump sum at the end of a specified term, or maturity date, such as 15 years.
CPAdirectory
Answer Provided by: CPAdirectory

Share This Answer

Looking For More?

View all Mortgages & Loans Questions

View More Questions