Balloon Payment Promissory Note Example In Houston
Category:
State:
Multi-State
City:
Houston
Control #:
US-00425BG
Format:
Word;
Rich Text
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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.
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A Promissory Note with Balloon Payments is a loan contract that enables a lender set loan terms with one or more larger payments at the end. It specifies the principal amount, annual interest rate, payment terms including monthly interest-only payments and a final balloon payment.Exhibit 10.1 First Union Real Estate Balloon Promissory Note This item begins on the following page. Get a non-bank loan that's paid back in installments with a secured promissory note. Create and download a promissory note for free! Our collection of printable promissory note templates makes it easy to draft and customize agreements for all your financial needs. The Texas Real Estate Lien Note is a oneway agreement in which the signer makes a promise to pay someone a specific sum of money at a specific time.