Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Balloon Payment Balloon Payment November 9, 2021 The final payment that is made at the maturity date of a balloon mortgage and pays the loan in full.You Might Also Like: Living QuartersSpring Maintenance Checklist for Your Home All Things CommunityHoli-days of Giving 2022 Everyday MoneyGiving Back During the Holiday Season Living QuartersYour Top Mortgage Questions Answered Living QuartersHow to Understand Mortgage Language