Finance
A balloon mortgage typically requires:
AEqual monthly payments throughout the loan term
BA large lump-sum payment of the remaining balance at the end of a short term✓ Correct
CPayments that increase 2% each year
DA down payment of at least 30%
Explanation
A balloon mortgage has regular payments (often interest-only or partially amortizing), but the remaining principal balance becomes due as a large lump-sum payment at the end of a specified short term.
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