A promissory note is a financial and legal instrument through which one party agrees (or promises) to pay another party a sum of money comprised of two parts: principal and interest. These handy ...

A promissory note formalizes a loan agreement. In the mortgage world, it explains the terms of your mortgage loan, including how much you're borrowing and the interest rate, term length ...

That's, in essence, what you're doing with the Master Promissory Note." Key things the MPN covers "The MPN will list a wide variety of details, everything from how your loan's interest will accrue ...