Balloon Amortization Sureties With Interest In King
Category:
State:
Multi-State
County:
King
Control #:
US-00425BG
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Word;
Rich Text
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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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This calculator computes the payment amount necessary for a mortgage with a balloon payment, using monthly interest compounding and monthly payments. By the end of this video you'll know the difference between loan amortization loan term and how a balloon payment comes into play with all of this.A balloon mortgage is a mediumterm real estate loan that allows borrowers to make low or no monthly payments. A balloon payment is when you have a loan that has a considerable amount due at the end.