Balloon Amortization Sureties With Interest Rates In Riverside
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State:
Multi-State
County:
Riverside
Control #:
US-00425BG
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Word;
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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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Interest rate: X. Interest rate. A balloon loan is a type of loan that does not fully amortize over its term.Do you need help understanding your debt financing terms? Use the balloon payment calculator to estimate the monthly payment and the final lump sum of a given balloon loan construction.