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balloon payment
(redirected from Balloon payments)

    Also found in: Dictionary/thesaurus, Medical, Legal, Wikipedia 0.01 sec.
Balloon Payment
The final (large) payment that repays all the remaining principal and interest of a partially amortized or unamortized loan. See: Bullet.
balloon payment
A final loan payment that is significantly larger than the payments preceding it. For example, a bond issuer may redeem 3% of the original issue each year for 20 years and then retire the remaining 40% in the year of maturity.
balloon payment

The full principal amount due at the end of a balloon mortgage.
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This type of loan usually means the monthly payments are low and if paid within a few years, one can refinance their home to avoid balloon payments.
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Due to high balloon payments relative to current residual values and low new vehicle prices, turn-in rates are expected to be very high.
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