Interest Only Promissory Note With Balloon Payment In Washington
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Multi-State
Control #:
US-00425BG
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Word;
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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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( ) INTEREST ONLY PAYMENTS on the outstanding principal balance. (The following must be completed if "b" or "c" is checked).Here's the information you'll need to have handy to complete your unsecured promissory note, interest-only with balloon final payment. A monthly interest rate can be included on the promissory note. Here's the information you'll need to have handy to complete your secured promissory note, interest-only with balloon final payment. How to Write a Promissory Note in Washington? Interest Only Payments. A balloon note is a type of loan where the borrower is required to make regular payments, called interestonly payments, for a specified period.