/bəˈlun ˈpeɪmənt ˈmɔrɡɪdʒ/ – Phrase
Definition: Khoản thanh toán cuối cùng lớn trong hợp đồng vay mua nhà.
A more thorough explanation: a loan which requires small regular payments to be made for a certain period of time and and a large portion of the borrowed amount, called a balloon payment, to be repaid in a single payment at the end of the loan period
Example: A borrower who has a balloon-payment mortgage closed on our standard balloon-payment mortgage documents typically has a conditional right to refinance at maturity into a fixed-rate mortgage.