Promissory Note With Balloon Payment For Mortgage In Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
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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Set loan terms with larger payments at the end. Here's the information you'll need to have handy to complete your secured promissory note, installment with balloon final payment.USA mortgage lenders, prepare a Balloon Mortgage Promissory Note with this downloadable template. Document Type: Microsoft Word Last Updated: 20-September-2022 A balloon payment is a lump sum that's due at the end of the loan term. It is good because it will: Lower your loan repayments. Create a secured note using the Pennsylvania Secured Promissory Note Template (download links on this page).