Bullet

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Related to Minie bullet: Minie rifle, Gatling gun

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 ?
Comparisons of downrange ballistics among our period-characteristic test samples indicate the Minie bullets were less subject to wind drift than the initially faster round balls but didn't show a trajectory advantage over the first 300 yards.
Using a metal detector, I've found Minie bullets, slugs and musket balls, but never anything like this.