Installment Promissory Note With Balloon Payment In Alameda
Category:
State:
Multi-State
County:
Alameda
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
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.
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Lender shall provide Borrower with a final written statement of monies due prior to the due date of the balloon payment. Here's the information you'll need to have handy to complete your secured promissory note, installment with balloon final payment.Set loan terms with larger payments at the end. A "balloon payment" is the inal installment of a loan to be paid in an amount that is disproportionately larger than the regular installment. Enter the amount of the First Deed of Trust, if any. Check all the applicable boxes, and complete the information requested.