A balloon mortgage is a type of home loan where you make small monthly payments for a certain period, usually 5 or 7 years, but at the end of that period, you need to pay the remaining balance in one large lump sum. Full definition
Most borrowers of balloon mortgages don't actually make the balloon payment when the low payment period ends. (valuepenguin.com)
Nearly $ 1.3 trillion of commercial real estate loans with balloon mortgages will mature between 2013 and 2016, with very limited options for small businesses and other commercial property owners to refinance. (vermontrealtors.com)
Recently, I have been generating leads from folks who have upcoming balloon mortgage payments and they would like to sell fast & move on from the property. (biggerpockets.com)