| ||||||
What is a balloon mortgage?
[ Administrator : virot05 - 27/05/2007 - 11:41 ]  A type of mortgage in which the loan amount is amortized over the full length of the loan (usually 30 yrs), but the loan actually comes due after a few years (usually five or seven). The first payments go mostly towards interest. The balance of the loan is due in one final installment, called the BALLOON PAYMENT. | ||||||
|
Post by : virot05 Privileges : Administrator
|
27/05/2007 - 11:41
 
 |
||||
![Reply : [ virot05 ]](../../images/ci_insert.gif){kind=small}
