Interest Only Promissory Note With Balloon Payment In Massachusetts
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State:
Multi-State
Control #:
US-00425BG
Format:
Word;
Rich Text
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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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Borrower promises to make a single, final payment for the entire balance owed to the Payee on or before. Here's the information you'll need to have handy to complete your unsecured promissory note, interest-only with balloon final payment.Here's the information you'll need to have handy to complete your secured promissory note, interest-only with balloon final payment. A monthly interest rate can be included on the promissory note. Interest Only Payments. Edit, sign, and share interest only loan agreement template online. No need to install software, just go to DocHub, and sign up instantly and for free.