Bullet

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Bullet

A one-time repayment, often after little or no amortization of the loan. See: Balloon Payment.

Bullet

The final, large payment a loan whereby the property owner makes only small payments for a set period of time (often five, seven or 10 years). At the end of the term, the owner repays the bullet, which is the entire principal and interest at once. For example, during the 2000s real estate bubble, balloon mortgages were common; homeowners made only interest payments followed by a bullet for the entire principal of the mortgage's maturity. Loans with bullets may be useful if the owner expects interest rates to be low at the end of the term and he/she can simply refinance the loans. However, there is a high risk of default because not all owners have the cash to repay the loan at one given time.
References in periodicals archive ?
Sierra's 150-grain Spitzer Boat Tail is a good all-around bullet, and the Hawkeye really took to it, regularly punching small groups; Hybrid 100V and IMR 4831 were the standouts here.
The device, called an aerodynamic boat tail, reduces fuel use by eliminating about 10 percent of the drag on a truck's forward motion caused by air flowing haphazardly around the trailer.
92mm (commonly referred to as the 8mm) Model 98 Mauser of both World Wars fired a service bullet of 154 grains--later replaced by a heavier 196-grain boat tail bullet--at a muzzle velocity of over 2,800 feet per second, surpassing even the performance of our own .
It features a longer ogive, smaller meplat and improved boat tail to preserve downrange efficiency, enhance accuracy and reduce wind drift.