Balloon Loan or Mortgage, Mortgage Brokers, Banks US, Rates, Refinancing term

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Balloon Loan or Mortgage - Mortgage Glossary Terms and Abbreviations

A mortgage that typically offers low rates for an initial period of time (usually 5, 7, or 10) years; after that time period elapses, the balance is due or is refinanced by the borrower.

Mortgage glossary and terms by letter

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