interest only mortgage

A balloon-payment mortgage on which the borrower must at first make only interest payments, but must make a lump-sum payment of the full principal at maturity.

— Also termed standing mortgage; straight-term mortgage. — Abbr. IO mortgage.

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词条贡献者

法律翻译Wayne，毕业于一所培养最顶级翻译人才的语言学院，专注翻译各类与调查、政府执法和白领刑事辩护有关的法律文件。