Promissory Note With Balloon Payment For Mortgage In San Bernardino
Category:
State:
Multi-State
County:
San Bernardino
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. The proceeds of this Note shall be applied only to the purchase price (and related escrow and title charges) of the Property.Get a non-bank loan that's paid back in installments with a secured promissory note. Create and download a promissory note for free! Lender shall provide Borrower with a final written statement of monies due prior to the due date of the balloon payment. It is also possible in an agreement for a balloon payment, indicating the last installment of an amortized loan. Use this unsecured promissory note (installment with balloon final payment) to make your loan official. A straight note is a written document that outlines the terms of a loan agreement between a borrower and a lender.