Secured Promissory Note Template
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Secured Promissory Note Template
A secured promissory note is a document that allows a lender to lend money with the added insurance of having assets or property handed over to them in the chance the borrower defaults. This type of note carries less risk to the lender and usually allows the borrower to pay a lesser interest rate.
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3 Must-Have Documents For Every Private Lender 👇 If you’re lending to real estate investors, these contracts protect your money and make sure you actually get paid: 1️⃣ Promissory Note This is the borrower’s written promise to repay. It spells out the loan amount, interest rate, and repayment schedule. Without it, you have no personal obligation for them to pay you back. 2️⃣ Mortgage or Deed of Trust This secures your loan against the property. If the borrower defaults, you have the right to fo
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