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Balloon Loan

A loan or bond in which the borrower makes only interest payments for a set period of time. At the end of the term, the borrower repays the entire principal at once. A balloon loan may be useful when the borrower expects interest rates to be low at the end of the term, allowing him/her simply to refinance the loan. However, there is a high risk of default because not all borrowers actually have the cash to repay an entire loan in one payment. See also: Balloon Mortgage.


The loan balance remaining at the time the loan contract calls for full repayment.

References in periodicals archive ?
Each night, the balloonists plan to use propane gas tanks to heat air molecules in the balloon's outer shell, which in turn will warm the helium.
A balloonist inflates his hot air balloon in training for a Spring Bank Holiday spectacular at the Faenol estate near Bangor
Nobody has attempted this feat since the doomed expedition by Swedish balloonist Salomon August Andree and his two companions in 1897.
Don was the first balloonist to fly over the Alps and the Sahara and first to fly from England to the Soviet Union.
His grandfather, Auguste Piccard, also a medical doctor, was the first balloonist to reach the stratosphere in a pressurized crew capsule.
THE daughter of British balloonist Brian Jones told of her pride last night as her father neared the end of his historic round-the-world mission.
The Millirons, 48-year-old space aficionados who met while attending the University of Pittsburgh, estimate they have invested $80,000 to $100,000 into Interorbital Systems - most of the money they earned by fabricating the propane tanks used by balloonist Dick Rutan on his failed round-the-world venture.
The 46-year- old balloonist and polar explorer notched up the record on his third attempt at the crossing.
ROUND-the-world balloonist Steve Fossett finally finishes his record breaking solo flight as he touches down in the Australian outback.
American balloonist Steve Fossett was afloat in a life raft in the Coral Sea off the coast of Australia last night.
When ICO approached us to sponsor this year's balloon flight, I was intrigued," said balloonist Richard Branson, the founder of U.
The balloonist has now been in the air for about 12 days since his lift-off in the Australian outback on June 19.