Finance
What is a 'balloon payment' mortgage?
AA mortgage with increasing monthly payments
BA mortgage with lower monthly payments for a set period, followed by a large lump-sum final payment✓ Correct
CA mortgage with no interest charges
DAn adjustable-rate mortgage tied to inflation
Explanation
A balloon mortgage features smaller periodic payments (often interest-only or based on a longer amortization) with a large lump-sum (balloon) payment due at the end of the loan term.
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