A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. How much will my payments be for a balloon mortgage?Can be used for traditional installments or balloon payment. A chattel mortgage is the common business loan available to ABN holders, provided the vehicle is to be used predominantly for business purposes. Of residential real estate transactions in the United. States—while fundamental questions about their future roles and the future of housing finance remain.