Balloon Note Example In Washington - Promissory Note - Balloon Note
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A Balloon Note is a Promissory Note that has one large payment (the balloon payment) that is due upon maturity. A balloon note will often have the advantage of a very low interest rate, thus requiring little capital outlay during the life of the loan. The major problem with such a loan is that the borrower needs to be self-disciplined in preparing for the large balloon payment due when the loan matures. Of course refinancing the note upon maturity is always a possibility.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
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SN 807C Installment Note, equal monthly payments, includes balloon payment (OR) Stevens-Ness Law Publishing Co. Small form, formatted to fill 8.5x11 sheet. For us in Washington Only, formatted for county recording requirements.(Washington DOT Package includes forms, guidelines, and completed examples). If interest is charged, the rate should be included with a repayment schedule.