跳到主要内容

Formswift: Create a Texas promissory note with our easy-to-use template

Get started with our Texas promissory note template and write loan agreements in minutes. Be it a secured or unsecured promissory note, this legal document will clearly stipulate the amount of money being lent and your rights according to Texas law.

A person wearing headphones and sunglasses works at a laptop outside.
What is a Texas promissory note?

A Texas promissory note is a legal document outlining the terms of a loan agreement. This agreement, usually between a lender and a borrower, serves as evidence of the borrower's promise to repay the loan within a set time, highlighting the due date.

A person using a tablet on a desk while another person stands with them.
What is a Texas promissory note used for?

A Texas promissory note can be used for a diverse range of lending situations, from personal loans and business loans to real estate transactions. It clearly states the amount of interest, accrued interest, loan amount, and repayment schedule, giving clarity and protection to both parties.

A person working from home with a laptop and a notebook.

Common types of a Texas promissory note

There are three common types of promissory notes in the state of Texas:

A hand signing a form digitally on a tablet.

Simple fixed-term promissory note

This type of note establishes a straightforward repayment plan, including the principal amount borrowed, interest rate (if any), and fixed installments over a specific period.

Two hands holding an hourglass.

Balloon promissory note

The borrower makes regular payments for a set period, then a larger "balloon" payment at the maturity date.

A paper clock hangs on a door front to indicate people should come back later.

Secured promissory note

In this case, the note's backed by collateral such as real estate or personal property. This provides extra security for the lender.

Frequently asked questions

Yes, you can use a Texas promissory note for both personal and business loans. It provides a clear legal framework for loan agreements in various contexts.

Absolutely. Our Texas promissory note template is fully customizable, so you can tailor it to your specific loan agreement requirements.

In the event of default, the lender can pursue legal remedies to recover the outstanding amount. This may include litigation or collection efforts.

Yes, you can include an interest rate in your Texas promissory note. However, you must comply with Texas’s usury laws, which cap the maximum interest rate you can charge at 6%.

Consulting with a lawyer can ensure that your Texas promissory note meets all legal requirements and addresses your specific needs.

Looking for other Texas documents?

Texas bill of sale

Prepare for selling an item with a clear bill of sale.

Texas vehicle bill of sale

Create a bill of sale specifically for selling a motor vehicle.

Texas power of attorney

Empower someone you trust to act on your behalf in legal matters.

Texas non-disclosure agreement

Protect your business with a confidentiality agreement.

Texas lease agreement

Protect yourself and your tenant throughout their tenancy.