Promissory Note With Balloon Payment For Mortgage In Palm Beach
Category:
State:
Multi-State
County:
Palm Beach
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.
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Can be used for traditional installments or balloon payment. Balloon Promissory Note: The borrower makes smaller payments initially, with a large "balloon" payment at the end of the loan term.Set loan terms with larger payments at the end. The Florida Promissory Note Installment PDF is a very simple form to fill out. We are in the process of signing a loan promisary note. THIS IS A BALLOON MORTGAGE SECURING A VARIABLE (adjustable; renegotiable) RATE OBLIGATION.