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February 04, 2006
Interest Only
Interest only loans are loans that give you an option to pay just the interest on the loan for a limited period of time. It also gives the option of paying the interest plus as much of the principal you want. The main advantage of this loan is the lower interest you pay each month. They also help to considerably control the monthly payment and cash flow each month. After the initial period, the repayments are raised to fully amortized levels. These loans also allow for a large principal prepayment if desired. Interest only loans can be fixed rate mortgages or adjustable rate
From Interest Only
Posted by Bob at February 4, 2006 05:22 PM
