What is an Entry Note in Real Estate?

In real estate, an Entry Note is a type of promissory note that documents the borrower’s initial promise to repay a loan.

Here’s how it works:

• Definition: An entry note is the primary loan instrument signed at the closing of a real estate transaction. It specifies the loan amount, interest rate, repayment schedule, and terms agreed to by the borrower and lender.
• Function: It legally binds the borrower to repay the debt and provides evidence of the loan. In most cases, it’s accompanied by a mortgage or deed of trust, which secures the loan with the property itself.
• Distinction: Sometimes, entry notes are referred to as “original notes” because they are the first (and often the most important) note in a transaction. Later modifications—like renewal notes or extension agreements—can be tied back to the original entry note.

So if you see "Entry Note" in real estate paperwork, it’s essentially the first signed promise-to-pay document between a borrower and lender that initiates the loan obligation.