Plain Language Promissory Note | USA

USA lenders, secure repayment of a loan with this Plain Language Promissory Note.

  • The Promissory Note form is drafted in language that is clear, concise, and easy for a borrower to understand.
  • The principal and interest are to be repaid by a series of equal monthly installment payments.
  • Any amount of principal and/or interest not paid on time bears late charges calculated as a percentage of the overdue payment amount.
  • The template is not State-specific and can used anywhere in the United States.
  • This is a downloadable and customizable legal form template in MS Word format.
Document Type: Microsoft Word
Last Updated: 07-September-2022
SKU: 7388
      $11.99
      Customers who bought this item also bought

      Michigan Residential Mortgage

      Secure a loan on a residential single-family home in Michigan with this fixed rate mortgage template.

      • The mortgage form contains the standard uniform covenants under federal mortgage lending regulations.
      • It also contains additional provisions required by Michigan laws, including acceleration and sale clauses, and release and discharge of the mortgage by the lender when it is paid in full.
      • The mortgage secures repayment of the loan in conjunction with a promissory note signed by the borrower.
      • This standard form legal template is downloadable and reusable.
      • The form is available in MS Word format.
      • Intended for use only in the State of Michigan.
      $17.99

      Wisconsin Fixed Rate Mortgage Note

      Wisconsin mortgage lenders can prepare a promissory note for a mortgagor to sign with this template Fixed Rate Mortgage Note.

      • The borrower will repay the loan by making monthly payments against the principal balance, plus accrued interest.
      • If on the maturity date there is still a balance outstanding, the borrower will pay the entire balance at that time.
      • The note holder has the right to accelerate the loan if the borrower defaults in making payments, and the entire loan balance will become due and payable.
      • The Wisconsin Fixed Rate Mortgage Note is a downloadable legal form template written in plain English so it is easy to understand.
      $6.29

      Line of Credit Promissory Note

      If you are offering a line of credit to a customer, secure your interest with this Line of Credit Promissory Note form.

      • The Note allows for multiple advances, up to a specified maximum amount.
      • Interest on the secured amount is simple interest, accruing monthly.
      • The Note is secured by a mortgage on the Borrower's property.
      • There is no prepayment penalty.
      • This is a generic legal template which is not specifically written for any country, state or province.
      • This form is provided in MS Word format and is easy to customize.
      $5.99

      Wisconsin Contract for Deed

      If you are selling a real estate property in Wisconsin, you can assist the buyer by carrying part or all of the purchase price with this Contract for Deed (or purchase money mortgage).
      • Under the terms of this Contract, the seller effectively becomes the mortgage lender for the balance of the purchase money.
      • Title will transfer to the buyer once payment in full of all principal and interest has been received by the seller.
      • The seller has the right to take back the property if the buyer defaults in payment.
      • At the seller's option, the balance can be repaid by monthly payments with or without interest until paid, or monthly payments with interest for a fixed number of payments with a balloon payment at the end to pay out the balance.
      This Wisconsin Contract for Deed form is in MS Word format, and is fully editable to fit your exact circumstances.
      $17.99

      Mortgage Note | USA

      This Promissory Note form is for loans that are backed by a mortgage against the borrower's real property.

      • You can use the template in any U.S. state.
      • There is no prepayment penalty or premium if the borrower prepays the loan in whole or in part.
      • If the borrower defaults under the note or the mortgage, the borrower promises to pay interest at the highest rate allowed by law.
      • The borrower will pay any collection costs incurred by the lender, including reasonable legal fees.
      • Intended to be used only in the United States.
      • Available in MS Word format.
      $12.49