A B C D E F G H I J K L M
N O P Q R S T U V X W Z

B

Balloon (Payment)
Mortgage usually a short-term fixed-rate loan which involves small payments for a certain period of time and one large payment for the remaining amount of the principal at the time specified in the contract.
Beneficiary
A person named to receive a benefit for a TRUST. A contingent beneficiary has conditions attached to his rights, usually someone else must die first.
Buydown
When the lender and/or the home builder subsidizes the mortgage by lowering the interest rate during the first few years of the loan. Rates do rise during the term, however the initial lower rate helps the borrower qualify for an amount they may otherwise not qualify for. This is an excellent instrument for those who anticipate the ability to pay slightly increasing payments in subsequent years.