Interest Only Promissory Note With Balloon Payment In Ohio
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
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 balloon note is a type of loan where the borrower is required to make regular payments, called interestonly payments, for a specified period. Interest Only Payments. Exhibit 10.1 First Union Real Estate Balloon Promissory Note This item begins on the following page. If interest is charged, the rate should be included with a repayment schedule.