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    Balloon Mortgage Promissory Note


    Because a balloon mortgage does not amortize over its term, the borrower has to pay a balance at the end of the loan term. Use this Promissory Note template to set out the conditions covering repayment of the mortgage loan.

    • The borrower agrees to make monthly payments against the balance, until the date of the final payment.
    • The final payment will be a balloon payment which will pay the full amount of principal and interest outstanding at that date.
    • The Note is secured by a mortgage on the borrower's property.
    • This is a generic legal template which is not specific to any country, state or province.
    • Purchase and download the Balloon Mortgage Promissory Note form, use it as often as you need to.
    Download Type: Microsoft Word
    Last Updated: 23-March-2022
    SKU: 4850
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    Ohio Residential Mortgage


    Write up a Residential Mortgage to secure repayment of a home purchase loan with this fully editable template for Ohio mortgage lenders.

    • Mortgage payments will be made in regular periodic instalments of blended principal and interest.
    • Unpaid interest becomes part of the principal and bears interest at the mortgage rate.
    • The mortgagor must pay all taxes and levies assessed against the property.
    • The mortgagor must keep the property insured in an amount and to an extent approved by the mortgagee.
    • Contains an acceleration upon default provision, which states that if the mortgagor defaults in any of its obligations, the entire amount of the indebtedness will become immediately due and payable, and the lender may foreclose and sell the property.
    This Ohio Residential Mortgage form is available as a downloadable MS Word template. Updated 09/12.