The stated intent of the law is to enhance responsible mortgage lending, protect borrowers, and preserve access to credit in the residential real estate market. I signed a 3 year contract w balloon payment w a private seller and won''t be able to get a loan for it.A balloon mortgage allows you to enjoy low monthly payments for several years — with a big catch. Escrow Officer: Escrow instructions, documents and forms to be filled out. Are you looking for a loan agreement form in Washington? Download our free Washington Loan Agreement Form which is available as PDF or Word documents. Of the chattel mortgage. There is the option to include a balloon payment in your chattel mortgage. Instructions for completing forms will provide guidance to applicants or borrowers on signature requirements. Note: The purchased version of this document includes a Loan Amortization Schedule Calculator (in Microsoft Excel format).