Finance
A Washington mortgage that requires a large lump-sum payment at the end of the loan term is called a:
AFully amortizing mortgage
BBalloon mortgage✓ Correct
CInterest-only mortgage
DReverse mortgage
Explanation
A balloon mortgage requires a large final payment (balloon payment) at the end of a relatively short term. The monthly payments may be calculated on a longer amortization period, leaving a large remaining balance due at term end.
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