Interest Only Promissory Note With Balloon Payment In San Diego
Category:
State:
Multi-State
County:
San Diego
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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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 cognovit promissory note is a legal document that obligates the borrower to repay the lender. There are many types of payment methods. Set loan terms with larger payments at the end. A promissory note can be structured as: (1) Installment Note; (2) Interest Only Note; or (3) Straight Note.