What kind of mortgage is a 360/180 balloon?

What are the terms of this? Actually, just, what does that mean?

7 Answers

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  • 1 decade ago
    Favorite Answer

    It's a mortgage with a 30 year term (360 months), but a balloon payment (a higher payment) is due after 15 years (180 months).

  • 3 years ago

    Mortgage 360

  • Anonymous
    4 years ago

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    RE:

    What kind of mortgage is a 360/180 balloon?

    What are the terms of this? Actually, just, what does that mean?

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  • 1 decade ago

    The loan amortizes over a 360 month period (30 years), but becomes due and payable after 180 months 15 years.

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  • 4 years ago

    does capital one owns 360 mortgage?

  • Bink
    Lv 4
    4 years ago

    kind mortgage 360180 balloon

  • 4 years ago

    ROFL! That's the funniest thing I've heard all day. I'm going to have to remember this one.

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