Real Estate Glossary



  Balloon Mortgage

A mortgage that has level monthly payments that will amortize it over a stated term but that provides for a lump sum payment to be due at the end of an earlier specified term.

 

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Edith Harper, Broker Associate
Prudential The McMillen Real Estate Group
1004 N. Berkeley Blvd., Goldsboro, N. C. 27534
e-mail address - edithharper@realtor.com


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