Balloon Mortgage Promissory Note | Canada

Use this customizable template to prepare a Balloon Mortgage Promissory Note for mortgage loans made in Canada. 

Repayment Terms

• Under this note, the borrower is required to make monthly payments toward the secured amount. These payments will continue until the date of the final payment.
• On the maturity date, the borrower must make a balloon payment that covers the entire remaining balance of both principal and interest outstanding. This structure ensures that the loan is fully repaid at maturity.

Security

The Balloon Mortgage Promissory Note is secured by a mortgage on the borrower’s property. This security measure provides protection for the lender and helps ensure repayment of the loan.

Format and Scope of Template

This Balloon Mortgage Promissory Note template is available in MS Word format. It is fully editable and reusable. There are no additional fees for multiple use. Once you pay, the form is yours.

The Promissory Note can be used throughout Canada. A French language version may be required for use in Quebec.