Note Balloon Sample With Quantity In Nevada
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Multi-State
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US-00425BG
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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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If interest is charged, the rate should be included with a repayment schedule. Fannie Mae Legal Documents.The term does not include a hot air balloon or a balloon used in a governmental or scientific research project.