balloon mortgage Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “balloon mortgage” in the English Dictionary

"balloon mortgage" in Business English

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balloon mortgagenoun [C]

uk   us   FINANCE
a ​type of mortgage (= ​loan to ​buyproperty) where the ​person or ​companyborrowing has to ​pay a large ​amount at the end of the ​loanperiod: The city generally ​issuedballoonmortgages that were rarely ​repaid at the end of their 30-year ​terms.
(Definition of balloon mortgage from the Cambridge Business English Dictionary © Cambridge University Press)
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