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Specifies that no interest is charged, and defines default triggers such as ceasing occupancy as the principal residence, transferring property, or failing to meet conditions in the written agreement. Describes how principal may be reduced through forgiveness, notice delivery by mail, and obligations of co-signers.",{"@graph":63,"@context":122},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/note-home-program-borrowers-promise-to-pay-interest-and-payment-terms/282471/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/note-home-program-borrowers-promise-to-pay-interest-and-payment-terms/282471.png","ImageObject",442,249,{"name":88,"@type":89},"Himbo","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-11-02","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":25},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114,118],{"name":105,"@type":106,"acceptedAnswer":107},"Is interest charged on the HOME Program loan note?","Question",{"text":108,"@type":109},"No. The template states there will be no interest charged on the loan.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"When does a default occur under this note?",{"text":113,"@type":109},"Default occurs if the borrower stops occupying the property as the principal residence, transfers ownership, or fails to comply with other conditions in the written agreement.",{"name":115,"@type":106,"acceptedAnswer":116},"How are notices delivered to the borrower?",{"text":117,"@type":109},"Notices are delivered by first class mail to the property address unless law requires a different method. If the borrower changes the principal residence address, notices are mailed to the new address provided to the lender.",{"name":119,"@type":106,"acceptedAnswer":120},"What role does the subordinate mortgage play?",{"text":121,"@type":109},"A subordinate mortgage may protect the note holder from possible losses related to the borrower’s failure to keep promises under the note and written agreement, while still being subject and subordinate to the first mortgage liens and terms.","https://schema.org",{"og:url":78,"og:type":124,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":126,"canonical":78},"index,follow",{"doc_id":128,"site_id":56},282471,1791290483,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":88,"user_avatar":133,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":25,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":73,"language":139,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":61,"update_tm":143,"read_time":9,"preview_page_count":4},687197100911,"https://ap-avatar.wpscdn.com/avatar/a000239b6f1da00475?x-image-process=image/resize,m_fixed,w_180,h_180&k=1785132997149421697","Note-Home Program  \nProperty Address:   Legal Description:  \nBORROWER’S PROMISE TO PAY: In return for a loan (LOAN) from  , a   organized and existing under the laws of the State of   (LENDER), BORROWER promises to pay U. S.   (this amount is called the principal) to the order of the LENDER. LENDER or anyone who takes this NOTE by transfer and who is entitled to receive payment under this NOTE is called Note Holder. The LOAN evidenced by this NOTE is being made pursuant to the HOME Investment Partnerships Program (HOME Program) administered by the U. S. Department of Housing and Urban Development (HUD) through the Participating Jurisdiction for the State of Oklahoma, the Oklahoma Housing Finance Agency (OHFA) .  \nINTEREST: There will be no interest charged on the LOAN.  \nPAYMENTS: The principal amount of this NOTE shall be due and payable under the Note Holder’s designation of a default under this NOTE. It is a default under this NOTE if: (a) BORROWER does not continue to occupy the Property as his or her principal residence; or (b) BORROWER transfers ownership of the Property to another party; or (c) BORROWER fails to comply with any other condition or conditions of the WRITTEN AGREEMENT between the LENDER and BORROWER. The Principal amounts of the LOAN shall be reduced  \n  . Such  \n reductions shall take effect in arrears on the same day of the month the LOAN was originally made. The amount of the LOAN due and payable at any timeshall be determined after deducting the principal amount of the LOAN that has been forgiven by Note Holder.  \nNOTICES: BORROWER understands that, unless applicable law requires a different method, any notice regarding this NOTE will be delivered to BORROWER by first class mail at the property address above. If BORROWER no longer maintains the property address as his or her principal place of residence, or for some reason is temporarily not residing at the property address above, any notice regarding this NOTE will be delivered to BORROWER by first class mail at the new address provided by the BORROWER to the LENDER..  \nOBLIGATIONS OF PERSONS UNDER THIS NOTE: If more than one person signs this NOTE, each person is fully and personally obligated to keep all of the promises made in this NOTE, including the promise to pay the full amount owed. Note Holder may  \nenforce its rights under this NOTE against each person individually or against all of them together. This means that any person who signs this NOTE may be required to pay all of the amounts due under this NOTE.  \nSUBORDINATE MORTGAGE: In addition to the protections given to Note Holder under this NOTE, a Subordinate Mortgage, dated the same date as this NOTE, may protect the Note Holder from possible losses which might result if BORROWER does not keep the promises which are made in this NOTE and/or the WRITTEN AGREEMENT signed by both the BORROWER and the LENDER. However, the Note Holder may be subject to repay the HOME Program funds even if the Note Holder is unable to recover any or all ofthe HOME Program funds.  \nThe Subordinate Mortgage is and shall be subject and subordinate in all respects to the liens, terms, covenants and conditions of the First Mortgage.  \nWITNESS THE SIGNATURE(S) OF THE UNDERSIGNED  \nBorrower:  Date:  (Borrower’s typed full name goes here.)  \nAttest:  \nSubscribed and sworn to before me   , 20  . My commission expires   , 20  .  \nNotary Signature","cbCaisp9QPHm66DZ","https://ap.wps.com/l/cbCaisp9QPHm66DZ","pdf",83070,"English","# Note-Home Program\n## Borrower’s Promise to Pay\n## Interest and Payment Terms\n## Notices and Co-Signer Obligations\n## Subordinate Mortgage and Signature Section","[{\"question\":\"Is interest charged on the HOME Program loan note?\",\"answer\":\"No. The template states there will be no interest charged on the loan.\"},{\"question\":\"When does a default occur under this note?\",\"answer\":\"Default occurs if the borrower stops occupying the property as the principal residence, transfers ownership, or fails to comply with other conditions in the written agreement.\"},{\"question\":\"How are notices delivered to the borrower?\",\"answer\":\"Notices are delivered by first class mail to the property address unless law requires a different method. If the borrower changes the principal residence address, notices are mailed to the new address provided to the lender.\"},{\"question\":\"What role does the subordinate mortgage play?\",\"answer\":\"A subordinate mortgage may protect the note holder from possible losses related to the borrower’s failure to keep promises under the note and written agreement, while still being subject and subordinate to the first mortgage liens and terms.\"}]","Note-Home Program - Borrower’s Promise to Pay - Interest and Payment Terms | PDF",1789575544]