Multistate Fixed Rate Note (Biweekly) | USA

Overview

This Promissory Note is designed for use as part of a mortgage loan transaction. It is suitable for use in most U.S. states.

Borrower's Promise to Pay

By signing this Note, the borrower agrees to pay the principal amount of the loan, as well as interest and any applicable late charges or loan fees as permitted by the lender.

Payment Schedule and Application

Loan payments are required every two weeks (biweekly). Each payment will be applied in the following order: first, to any late charges if they exist; second, to accrued interest; and finally, any remaining amount will be applied toward reducing the principal balance.

Late Payment and Lender's Rights

If the borrower fails to make payments on time, the lender reserves the right to terminate the biweekly payment schedule. In such cases, the lender may require that all future payments be made on a monthly basis instead.

Security for the Loan

This Promissory Note may serve as security for a loan in connection with a mortgage, deed of trust, or security deed.

Format

The template is available in Microsoft Word format for easy use and customization.

Document Type: Microsoft Word
Last Updated: 15-September-2025
SKU: 6529
$6.50
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