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What term refers to a large final payment due at the end of a loan?
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∙ 11y ago
Balloon Payment
Wiki User
∙ 11y ago
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What terms refers to a large final payment due to the end of a loan?
Balloon payment
What terms refers to a large final payment due at the end of a loan?
Balloon Loan
What is a balloon payment?
A balloon payment is a large, lump sum payment made either at specific intervals, or more commonly, at the end of a long-term balloon loan
What is salary loan?
A salary loan refers to an advance payment you receive and pledge your salary as security. The loan is normally serviced through your monthly salary.
How does a balloon payment calculator work?
The balloon payment calculator takes into account your balloon payments, or your large usually last payment of your loan, and meshes it with your current loan and additional payments.
What terms refers to a large final payment due to the end of a loan?
Balloon payment
What terms refers to a large final payment due at the end of a loan?
Balloon Loan
What is meant by balloon mortgage in Anchorage, AK?
Regardless of location a balloon mortgage is when you have a large final payment at the end of the loan period.
What is a balloon payment?
A balloon payment is a large, lump sum payment made either at specific intervals, or more commonly, at the end of a long-term balloon loan
What is meant by car loan payment?
When an individual is purchasing a car it is usually acquired by getting a car loan. A car loan payment refers to the payments one makes to the loaning company or bank.
What is salary loan?
A salary loan refers to an advance payment you receive and pledge your salary as security. The loan is normally serviced through your monthly salary.
How does a balloon payment calculator work?
The balloon payment calculator takes into account your balloon payments, or your large usually last payment of your loan, and meshes it with your current loan and additional payments.
What is a final balloon payment on a car payment?
A "balloon payment" is a final, usually quite large, payment on a loan. Essentially what you're doing in such a loan is taking a (slightly) smaller monthly payment in exchange for having to come up with a large lump sum of cash at the end. Generally speaking these aren't such a good idea for a typical borrower. The question to ask is "If I don't have the balloon payment sitting in my account right now, what reason do I have to think I will have it when it comes due?" If you can think of a very good reason (such as "By the time the balloon payment comes due my house will have sold/my bonds will have matured/I can use the money from my Certificates of Deposit without the Substantial Penalty for Early Withdrawal") then maybe the balloon payment loan does make sense. Otherwise you're probably better off avoiding them.
What is the meaning of loan closing cost?
The loan closing cost is the final payment due after the term of payment of a load has expired and is usually a larger amount than the monthly amount which payable to the loaner.
Can you explain what a balloon payment calculator is?
A Balloon Payment is a large payment due at the end of a mortgage or loan period. Therefore, a Balloon Payment Calculator will help you to predict what you will owe on your Balloon Payment.
How can you lower loan payment for car?
You can lower your loan payment by refinancing your car loan. You can also negotiate with your current lender and see if he can reduce your payment amount.
How do you obtain car loan payment schedules before you go out looking for a car loan?
When you are in the market for a car loan, you can contact local lending institutions, ie banks and credit unions, to get an estimate on interest rates and cappped loan amounts. Be sure to subtract your cash down payment from final cost of the car, before multiplying interest rate and dividing by months of the loan.
