Economics · Banking and Finance
A type of mortgage loan that allows borrowers to make low payments in the initial phases but requires repayment of the balance amount in a lump sum at maturity is known as a _______.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Payday Loan
- 2Income-Sensitive Payment
- 3English Mortgage
- 4Balloon Mortgage✓
Correct answer
Balloon Mortgage
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