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Budget loan
The budget loan includes the standard housing costs, which are the principal, interest, real estate taxes and insurance (PITI for short). This helps some borrowers budget for these expenses.
Balloon loan
A mortgage in which the monthly payment is not large enough to repay the loan by the end of the term. The final payment is a large lump sum of the remaining balance
Bridge Loans
Bridge loans are used in real estate transactions to cover the down payment on a new home, when the borrower has equity in his old home, but not enough cash.
It is generally a short term, interest only loan that is repaid when the homeowner sells his old house.
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