Wiktionary
n. An unusually large payment due at the end of a mortgage or loan.
Usage examples of "balloon payment".
She could meet the balloon payment on the second mortgage that was due on January fifteenth.
The buyers gave him $30,000 down and paid him $1,800 a month, with a balloon payment of $210,000 promised one year after the sale.
This was a simple letter agreement between Mickey Magruder and Tim Littenberg, signed by the latter, in which he acknowledged receipt of the sum of $10,000, a no-interest loan with a five-year balloon payment due and payable five months ago January 15, 1986.
His suspicion was that Tom had a big balloon payment coming up, and this was nothing more than a push to find the dough before the note came due.
The grand prize that year had been $15,000, just enough to cover the balloon payment due on Elton's farm, and there was no doubt he would have won it.
David figures you'll have to sell as much as ten thousand shares of HSMC to handle the balloon payment on your loans come January.
And he told her now that he had been waiting for some investments to clear before he paid the contractor a large balloon payment.