USA Multistate Fixed Rate Note (Biweekly)
Prepare a Promissory Note for a mortgage loan to be paid in biweekly payments with this USA Multistate Fixed Rate Note template.
- This form can be used in most U.S. states.
- The borrower promises to pay the principal amount of the loan, plus interest and any late charges or loan fees that the lender is allowed to charge.
- Loan payments will be made every two weeks and will be applied first to late charges (if any), then to accrued interest, and the remainder to pay down the principal.
- If the borrower fails to make the payments on time, the lender has the right to terminate the bi-weekly payments and demand that the payments be made on a monthly basis instead.
- The Note can be used as security for a loan in connection with a mortgage, a deed of trust or a security deed.
The Bi-weekly Multistate Fixed Rate Note is affordable, downloadable and easy to understand.