Bullet Repayment
A single payment for an entire loan amount that is paid at maturity.
Investopedia Commentary
For large loan amounts, such as mortgage loans, refinancing is usually required in order to pay the entire bullet repayment amount.
Related Links
Paying Off Your Mortgage
Mortgages: The ABCs Of Refinancing
See also: Bullet Bond, Bullet GIC, Bullet Loan, Maturity, Refinance
Also spelled: Bullet Re-payment