With a(n)________ mortgage,you make relatively small monthly payments for several years,after which the loan comes due and you must pay it off in one large payment.
A)growing equity
B)option payment ARM
C)interest only
D)balloon payment

Question

Quizplus · Accepted Answer

A balloon payment mortgage requires small monthly payments for a specified term, typically 5-7 years, after which the remaining loan balance must be paid off in one large lump sum payment. This option can be risky as it may require the borrower to refinance or sell the property in order to make the final payment.

With A(n)________ Mortgage,you Make Relatively Small Monthly Payments for Several