Sentences with balloon mortgage
bal·loon mort·gage
B b - They have made a down payment on a balloon mortgage that will require huge, escalating payments in the future.A balloon mortgage for $25,000 has interest-only payments for 5 years at 12 percent, with the full principal of $25,000 due after 5 years.A balloon mortgage is a mortgage in which you make small payments over a period of time and repay the balance in one large final payment.