Real estate blog entries tagged with interest only mortgage by Gaurav Bhola (GimmieTheScoop)

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Home : Blogs : Gaurav Bhola : Gaurav Bhola : Tag "interest only mortgage"

interest only mortgage: What Is An Interest Only Mortgage - 02/05/08 03:45 PM

By, Gaurav Bhola, MSM
An interest only mortgage has scheduled monthly mortgage payments consisting of interest only. Generally, the length of the interest mortgage payments last for a period of 5 to 10 years. If you pay only interest during this period your proceeding balance will remain unchanged. However, you may choose to pay more than the minimum interest payment every month.
An interest-only home loan represents a higher risk for lenders; hence, your mortgage loan will have a somewhat higher interest rate. If you expect a substantial increase in income in the forthcoming years the interest only mortgage loan gives you … (0 comments)

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Gaurav Bhola

Orlando, FL

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