Interest Only Promissory Note With Balloon Payment In Nevada
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
Secure loans with a promissory note. A monthly interest rate can be included on the promissory note.Here's the information you'll need to have handy to complete your secured promissory note, interest-only with balloon final payment. 1. Periodicity (check one):. The Promissory Note shall bear interest at the rate of. Step 3 – Payments – Select one of the three available payment methods: No Installments; Installments; Interest Only. Obtain a Nevada promissory note template to establish loan terms, such as the principal amount, interest rate, and repayment obligations.