Partially amortized mortgage loan Flashcards
(2 cards)
1
Q
What is a partially amortized mortgage loan?
A
Regular payments are smaller than required to completely pay off the loan at the end of the term
This type of loan results in a remaining balance at the end of the term.
2
Q
A partially amortized loan has what at the end?
A
Single final balloon payment for the unpaid balance
