Interest Only Promissory Note With Balloon Payment In Travis
Category:
State:
Multi-State
County:
Travis
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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Here's the information you'll need to have handy to complete your unsecured promissory note, interest-only with balloon final payment. Promissory note is the written contract between the borrower and the lender that is the promise to repay the debt including interest payments.Here's the information you'll need to have handy to complete your secured promissory note, interest-only with balloon final payment. There are four types of loan: 1. Balloon Payment Loan 2. A mortgage that permits the lender to adjust its interest rate periodically on the basis of changes in a specified index. George has a loan that is amortizing over 30 years, but he will be required to pay the remaining principal in 15 years. What is this called?