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Bullet Loan |
Also found in: Wikipedia | 0.07 sec. |
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Bullet Loan Any loan that requires a balloon payment at the end of the term and anticipates that the loan will be refinanced in order to meet the balloon payment obligation. Notes: These loans are riskier because the homeowner's equity in the property doesn't increase over time.Bullet loan A bank term loan that calls for no amortization. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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They're called bullet loans because they require the borrower to pay interest only for the term of the loan, followed by one large "bullet" payment at the end. While the financial press has warned of the large amount of bullet loans coming due, we have not witnessed an excessive demand from this type of borrower. Approximately $99 million of debt at the holding company level was repaid and the remaining $100 million was recently refinanced through a three year bullet loan at very attractive spreads over LIBOR (2. |
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Bullet Loan