term mortgage

Definition

Short-term (usually for five years or less) standing mortgage in which (unlike in a term loan) the loan is not amortized over a fixed period but only interest is paid over the term of the loan. When the loan term ends (mortgage matures) the principle becomes payable as a lump sum called balloon payment.


term mortgage is...

... in the Banking, Commerce & Finance subject.

Nearby Terms

Search volume for term mortgage

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z