Finance
A balloon mortgage in Alabama is characterized by:
APayments that increase over time
BLow or interest-only payments followed by a large final payment✓ Correct
CA fixed rate for the entire loan term
DPayments tied to a market index
Explanation
A balloon mortgage features lower monthly payments (sometimes interest-only) for a set period, followed by a large 'balloon' payment of the remaining principal balance at maturity.
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