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Video instructions and help with filling out and completing Get and Sign balloon note form

Instructions and Help about Get and Sign balloon note form

so we already have some experience with traditional fixed-rate mortgages but I'll give a little bit of review before we talk about a little variation or maybe you could say a big variation on it which is a balloon payment mortgage so right over here what I've depicted are the different payments you would make on a 30-year fixed mortgage so this one right over here is 30 a 30-year a 30-year fixed mortgage where you have a fixed payment every month of one thousand four hundred and thirty two dollars and the loan amount is three hundred thousand dollars so before you make your first payment you owe the bank $300,000 $300,000 and you keep making these payments and we've seen in previous videos is that your very first payment you see in magenta here is mostly interest 1,000 of that one thousand four hundred thirty two dollars is interest then the next payment well you've paid down the principal a little bit not a lot not a lot that me it looks like it's about four hundred something dollars

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