Interest Only Promissory Note With Balloon Payment In Pima
Category:
State:
Multi-State
County:
Pima
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.
Free preview
Form popularity
More info
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.This document is a secured promissory note between a borrower and payee. A single final balloon payment for the entire outstanding Principal amount and interest accrued will be paid on or before the day of. Most consumers with a balloon note refinance their loan before the final balloon payment becomes due.