A Dictionary of Terms for the real estate and lending industry. Includes terms specific to real estate contracts in the St. Louis, Missouri area.
Real Estate Terminology for: Chesterfield - Ballwin - Ladue - Clayton - Kirkwood - Webster Groves - Eureka - Fenton - St Charles - City of Saint Louis - RE/MAX Properties West - Agents licensed in MO.
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Balloon Loan-
Mortgage in which the remaining principal balance becomes fully due and payable at a predetermined time. Most of the time, balloon loans have level payments until the note becomes due and payable.
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