A balloon mortgage is a specific type of home loan that requires you to make a large payment — hence, the name “balloon” — ...

Find out exactly what a balloon payment is, how it works and the pros and cons. ... these loans have a 30-year amortization schedule with a balloon payment after five to seven years.

When you start looking at loans, all the different options can be confusing. A balloon mortgage is a specific type of home loan that requires you to make a large payment — hence, the name ...