The last payment in a partially amortizing residential mortgage loan is best referred to as a:
A) waterfall.
B) principal repayment.
C) balloon payment.

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A balloon payment is a large final payment due at the end of a loan that is partially amortized. The term "balloon" refers to the fact that the payment is significantly larger than the other payments. This type of loan is often used by borrowers who plan to sell or refinance the property before the balloon payment is due.

The Last Payment in a Partially Amortizing Residential Mortgage Loan