Definition: A loan that requires a single, usually final, payment that is much greater than the payment preceding it Though balloon loans are usually written under–and called by–another name.
Define balloon loan. balloon loan synonyms, balloon loan pronunciation, balloon loan translation, English dictionary definition of balloon loan. n a loan in respect of which interest and capital are paid off in instalments at irregular intervals. English dictionary definition of balloon loan.
However, auto balloon loans are often exceedingly risky for the borrower. That's because automobiles are depreciating assets. This means.
Price Per Bullet Calculator How Does A Mortgage Calculator Work How Mortgages Work. In simple terms, a mortgage is a loan in which your house functions as the collateral. The bank or mortgage lender loans you a large chunk of money (typically 80 percent of the price of the home), which you must pay back — with interest — over a set period of time. If you fail to pay back the loan,