Note With Balloon Payment In California
Category:
State:
Multi-State
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.
Free preview
Form popularity
More info
(1) A statement of the name and address of the person to whom the balloon payment is required to be paid. The proceeds of this Note shall be applied only to the purchase price (and related escrow and title charges) of the Property.Here's the information you'll need to have handy to complete your secured promissory note, installment with balloon final payment.