Balloon Payment
A large lump-sum payment due at the end of a loan whose earlier payments were kept artificially low.
What does balloon payment mean?
Balloon loans calculate payments on a long schedule but come due much sooner, leaving most of the principal owed in one final payment. Borrowers usually plan to refinance, sell, or pay the lump sum when it arrives.
Put it to use
Balloon Loan Calculator A balloon loan can be an excellent option for many borrowers. Use this calculator to see how a balloon loan might work for you. Balloon Mortgage Calculator A balloon mortgage can be an excellent option for many home buyers, use this calculator to see if a balloon mortgage might fit your needs.
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