Promissory Note With Balloon Payment With Amortization Schedule In San Diego
Category:
State:
Multi-State
County:
San Diego
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.
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Set loan terms with larger payments at the end. This tool figures a loan's monthly and balloon payments, based on the amount borrowed, the loan term and the annual interest rate.A promissory note is a written commitment to pay someone. Here's the information you'll need to have handy to complete your secured promissory note, installment with balloon final payment.