This is a form of Promissory Note for use where commercial property is security for the loan. A separate deed of trust or mortgage is also required.
Tennessee Installments Fixed Rate Promissory Note Secured by Commercial Real Estate
Category:
State:
Tennessee
Control #:
TN-NOTESEC3
Format:
Word;
Rich Text
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Description
Free preview Promissory Note Nashville
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FAQ
A jumbo mortgage loan is a home loan whose amount exceeds the limit set by Fannie Mae and Freddie Mac. In Tennessee, that limit is pegged at $510,400 for most counties and is as high as $563,500 in other counties. If you take out a home loan that exceeds that, it will be considered a jumbo mortgage.
Announcement of Maximum Effective Formula Rate of Interest NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.25 percent per annum.
Tennessee interest rate laws are stated in Tennessee Code, Title 47 (Commercial Instruments and Transactions), Chapter 14 (Interest Rates Generally), Part one (General Provisions). Under Section 47-14-103, the state legal maximum interest rate is ten percent per annum.