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balloon loan

Spanish translation: préstamo globo

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:balloon loan
Spanish translation:préstamo globo
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03:41 Dec 10, 2000
English to Spanish translations [PRO]
Bus/Financial
English term or phrase: balloon loan
Insurances
Pilar Campos
Spain
Local time: 12:09
prestamo /tipo globo/ /con pago final superior al promedio/
Explanation:
Two possibilities, and your choice might depend on which country you are translating for/whether your readership will be familiar with this kind of loan or not:

PRESTAMO TIPO GLOBO (see 2 & 3 below)

PRESTAMO CON PAGO FINAL SUPERIOR AL PROMEDIO (see 1 below)

The loan acts like a balloon - with a 'small neck' of 5/7 years when payments are small, then a 'large body' representing a huge payment in year 5/7.
It's designed for someone who expects to sell the property within 5/7 years (not normal in Spain, where people don't usually move around a lot (in comparison with other mobile populations) and certainly wouldn't buy and sell properties in such short time scales).


1.
EXTRACT IN ENGLISH:
"BALLOON PAYMENT LOAN (also called Interest Only Loan) - a type of loan transaction in which the borrower makes usually smaller payments of interest only on the amount borrowed for some period of time, after which the full amount borrowed must be paid in full in one payment."
TRANSLATED TO SPANISH
"*PRESTAMO CON PAGO FINAL SUPERIOR AL PROMEDIO* (Balloon Payment Loan o Interest Only Loan) - El prestatario sólo paga los intereses del préstamo y nada del principal (la cantidad que en realidad tomó prestada). Después de 3, 5, 7 o 10 años, se hace un pago sustancial de todo el principal que se vence en un solo pago."
FROM
http://www.google.com/search?q=cache:www.consumer-action.org...

2.
EXTRACT
"Evite las *hipotecas tipo globo*, que amortizan los pagos como en una hipoteca a 30 años, pero en tres, cinco o sieta años demanda la cancelación de todo el balance."
FROM
http://www.google.com/search?q=cache:www.ellasavvy.com/espan...

3.
EXTRACT ENGLISH
"In this balloon loan, although your monthly payment is calculated as if you will pay off the loan over 30 years, this loan requires that you completely pay your remaining balance (a significant percentage of your original loan amount) in a single payment after 5 years."
SPANISH (ABBREVIATED VERSION OF SAME PAGE)
"El préstamo avanzado programa *los globos*, las hipotecas de dos etapas, y más..."
FROM
http://www.google.com/search?q=cache:www.globalfinancial.org...

PS I think the second translation is poor as it doesn't convey the significance of this kind of loan, which implies SHORT-TERM FULL PAYMENT OF PRINCIPAL. I suggest, as an alternative:

PRESTAMO (HIPOTECARIO) CON VENCIMIENTO DEL PRINCIPAL A CORTO PLAZO

Alternatively translate using 'comillas' - prestamo "globo" - and footnote an explanation.
Selected response from:

xxxLia Fail
Spain
Local time: 12:09
Grading comment
Thanks a lot, it was really helpful.
4 KudoZ points were awarded for this answer

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Summary of answers provided
napréstamo con pago global final
Frank Johnson
naPréstamo con un pago final mayorLeonardo Lamarche
naprestamo /tipo globo/ /con pago final superior al promedio/xxxLia Fail
naPréstamo global
Blanca Rodr�guez
naPréstamo con pago periódico de intereses y amortización del capital al vencimiento.Kensington
naPréstamo globalTelesforo Fernandez


  

Answers


1 hr
Préstamo global


Explanation:
it is translated as :Préstamo global

ver el siguiente sitio donde aparece el termino :
www.arrakis.es/~jmbazan/db/glmort.htm


    Reference: http://www.arrakis.es/~jmbazan/db/glmort.htm
Telesforo Fernandez
Local time: 16:39
PRO pts in pair: 266
Login to enter a peer comment (or grade)

1 hr
Préstamo con pago periódico de intereses y amortización del capital al vencimiento.


Explanation:
Préstamo global es la traducción que se hace, pero si estás traduciendo para España, el término no se va a entender. Es un tipo de préstamo en el que a lo largo de la vida del mismo se pagan sólo los intereses, calculados sobre el importe del préstamo, y el capital se amortiza en un único pago al final del plazo. Es el sistema americano, que no se usa en Europa, aquí usamos el sistema de amortización alemán.

En las páginas de referencia, además de en la que te han citado, puedes encontrar muchos otros términos que quizás te sean útiles. ¡Suerte!


    www.unahipoteca.com/definicion(esp).htm, www.hipotecario.com.ar/abc.shtml#s
    Reference: http://www.bancointernet.com/comunidad/espanol/iemortgage/gl...
Kensington
Local time: 12:09

Peer comments on this answer (and responses from the answerer)
LinguaVox
Login to enter a peer comment (or grade)

2 hrs
Préstamo global


Explanation:
He encontrado el término en un glosario en esta dirección:

http://www.jcmortgage.com/terminos_hipotecarios.htm

También he encontrado esta definición en inglés, por si te es útil: Balloon loans are short term mortgages that have some features of a fixed rate mortgage (http://www.iemortgage.com/newlook2/glossary/glossary.asp)

Suerte,
bl.rod



Blanca Rodr�guez
Local time: 12:09
Native speaker of: Native in SpanishSpanish, Native in GalicianGalician
PRO pts in pair: 23
Login to enter a peer comment (or grade)

2 hrs
prestamo /tipo globo/ /con pago final superior al promedio/


Explanation:
Two possibilities, and your choice might depend on which country you are translating for/whether your readership will be familiar with this kind of loan or not:

PRESTAMO TIPO GLOBO (see 2 & 3 below)

PRESTAMO CON PAGO FINAL SUPERIOR AL PROMEDIO (see 1 below)

The loan acts like a balloon - with a 'small neck' of 5/7 years when payments are small, then a 'large body' representing a huge payment in year 5/7.
It's designed for someone who expects to sell the property within 5/7 years (not normal in Spain, where people don't usually move around a lot (in comparison with other mobile populations) and certainly wouldn't buy and sell properties in such short time scales).


1.
EXTRACT IN ENGLISH:
"BALLOON PAYMENT LOAN (also called Interest Only Loan) - a type of loan transaction in which the borrower makes usually smaller payments of interest only on the amount borrowed for some period of time, after which the full amount borrowed must be paid in full in one payment."
TRANSLATED TO SPANISH
"*PRESTAMO CON PAGO FINAL SUPERIOR AL PROMEDIO* (Balloon Payment Loan o Interest Only Loan) - El prestatario sólo paga los intereses del préstamo y nada del principal (la cantidad que en realidad tomó prestada). Después de 3, 5, 7 o 10 años, se hace un pago sustancial de todo el principal que se vence en un solo pago."
FROM
http://www.google.com/search?q=cache:www.consumer-action.org...

2.
EXTRACT
"Evite las *hipotecas tipo globo*, que amortizan los pagos como en una hipoteca a 30 años, pero en tres, cinco o sieta años demanda la cancelación de todo el balance."
FROM
http://www.google.com/search?q=cache:www.ellasavvy.com/espan...

3.
EXTRACT ENGLISH
"In this balloon loan, although your monthly payment is calculated as if you will pay off the loan over 30 years, this loan requires that you completely pay your remaining balance (a significant percentage of your original loan amount) in a single payment after 5 years."
SPANISH (ABBREVIATED VERSION OF SAME PAGE)
"El préstamo avanzado programa *los globos*, las hipotecas de dos etapas, y más..."
FROM
http://www.google.com/search?q=cache:www.globalfinancial.org...

PS I think the second translation is poor as it doesn't convey the significance of this kind of loan, which implies SHORT-TERM FULL PAYMENT OF PRINCIPAL. I suggest, as an alternative:

PRESTAMO (HIPOTECARIO) CON VENCIMIENTO DEL PRINCIPAL A CORTO PLAZO

Alternatively translate using 'comillas' - prestamo "globo" - and footnote an explanation.


xxxLia Fail
Spain
Local time: 12:09
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 631
Grading comment
Thanks a lot, it was really helpful.
Login to enter a peer comment (or grade)

2 hrs
préstamo con pago global final


Explanation:
Así es según West, Spanish-English Dictionary of Law and Business


    West
Frank Johnson
United States
Local time: 05:09
PRO pts in pair: 63
Login to enter a peer comment (or grade)

3 hrs
Préstamo con un pago final mayor


Explanation:
Reamalmente es la definición, pero es lo que se encuentra en el Business Dictionary de Steven Kaplan: Balloon payment = pago final mayor. Balloon mortgage = hipoteca con pago final mayor. Balloon maturity = préstamo con pago final mayor. Espero sea de ayuda.

Leonardo Lamarche
Local time: 07:09
PRO pts in pair: 591
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