Legal Definition and Related Resources of Balloon Mortgage

A mortgage which provides for a certain number of payments at stated regular intervals and a final payment which is substantially greater than any of the periodic payments.

Browse or run a search for Balloon Mortgage in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Balloon Mortgage in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Balloon Mortgage in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Balloon Mortgage in the Legal Abbreviations and Acronyms Dictionary.

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Concept of Balloon Mortgage in the context of Real Property

A short definition of Balloon Mortgage: A mortgage that has a final payment larger than the other payments. For example, a thirty year loan due in five years would have a payment that would amortize it (pay it off) over thirty years. However, the loan would be due in five years, making the final payment (the balloon payment) greater than the previous payments.

Concept of Balloon Mortgage in the context of Real Property

A short definition of Balloon Mortgage: A mortgage that has a final payment larger than the other payments. For example, a thirty year loan due in five years would have a payment that would amortize it (pay it off) over thirty years. However, the loan would be due in five years, making the final payment (the balloon payment) greater than the previous payments.