Everything You Need To Know About Loans
|  Loan Dictionary  |    |  

  Balloon Mortgage Definition
Balloon Mortgage With a balloon mortgage, your payments are usually set based on a 30-year amortization period, but the loan actually becomes due much sooner than that, calling for a large, lump-sum payment at the end of the loan, which is referred to as the balloon payment. If you have a balloon mortgage, you will need to pay off your mortgage in full or refinance at the end of the balloon period.
   
   
   


    Next Steps: Read Money Saving Loan Advice and Find Lenders with the LOWEST Loan Rates.
 
Mortgage Loans Home Refinancing Home Equity Loans Vehicle Loans Auto Refinancing



Home Loans & Car Loans Search

Home Refinancing | Home Mortgages | Home Equity Loans & Line of Credit | Auto & Motorcycle Loans | Auto Refinance Loans
Home - Loans | About EchoBay Loans | Loan Advice | SitemapCredit Report Help CenterDefinition Dictionary


Copyright© 2008, EchoBay Loans Company
Mortgage Refinancing Home Loans Home Equity Loans Auto & Motorcycle Loans Auto Refinancing Credit Reports