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• A mortgage with periodic installments of principal and interest that do not fully amortize the loan. The balance of the mortgage is due in a lump sum at a specified date, usually at the end of the term.

  State of New Jersey, Department of Banking & Insurance - Cite This Source - This Definition
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  Cite Definition for balloon mortgage

  American Psychological Association (APA)

  balloon mortgage. (n.d.). Glossary of Common Mortgage Terms. Retrieved June 5, 2023, from website: http://www.expertglossary.com/definition/balloon-mortgage.

  Chicago Manual of Style (CMS)

  balloon mortgage. www.newjersey.gov. Glossary of Common Mortgage Terms. State of New Jersey, Department of Banking & Insurance. http://www.expertglossary.com/definition/balloon-mortgage (accessed: June 5, 2023).

  Modern Language Association (MLA)

  "balloon mortgage." Glossary of Common Mortgage Terms. State of New Jersey, Department of Banking & Insurance. 5 June. 2023 http://www.expertglossary.com/definition/balloon-mortgage.

• a mortgage loan that requires a large payment due upon maturity (for example, at the end of ten years).

  Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program - Cite This Source - This Definition
  ×

  Cite Definition for balloon mortgage

  American Psychological Association (APA)

  balloon mortgage. (n.d.). Making Home Affordable Glossary. Retrieved June 5, 2023, from website: http://www.expertglossary.com/definition/balloon-mortgage.

  Chicago Manual of Style (CMS)

  balloon mortgage. www.makinghomeaffordable.gov. Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. http://www.expertglossary.com/definition/balloon-mortgage (accessed: June 5, 2023).

  Modern Language Association (MLA)

  "balloon mortgage." Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. 5 June. 2023 http://www.expertglossary.com/definition/balloon-mortgage.

• Browse Related Terms: Adjustable-Rate Mortgage (ARM), amortization, balloon mortgage, Convertible ARM, Debarment, Fixed-Rate Mortgage (FRM), Interest-only mortgage, Lock-In, Lock-in agreement, Mortgage life insurance, Negative amortization, Payment Cap, Right of rescission, Self-Amortizing Loans, Swap, term, Weighted Average Life (WAL)

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