MLchartDataset catalogue

Balloon mortgage

Term · Law · MLC-T-LAW-000662

A type of home loan that does not fully amortize over its term, requiring a large lump-sum payment at the end of the loan period. Borrowers make smaller, interest-only or partially amortized payments for a set number of years. This final payment, known as a balloon payment, typically covers the remaining principal balance.

Table 1. Record
IdentifierMLC-T-LAW-000662
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000662",
  "term": "Balloon mortgage",
  "field": "Law",
  "definition": "A type of home loan that does not fully amortize over its term, requiring a large lump-sum payment at the end of the loan period. Borrowers make smaller, interest-only or partially amortized payments for a set number of years. This final payment, known as a balloon payment, typically covers the remaining principal balance.",
  "url": "https://mlchart.com/terminology/law/balloon-mortgage/"
}

Record 454 of 5,439 in Law terminology (MLC-0107). Request the full dataset.