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February 04, 2006
Pro and Cons of Interest Only
Interest only loans are a type of mortgage that provides the option of paying just the interest on the loan for some time of the repayment period. The principle can be repaid after say 3, 5, 7 or 10 years. These loans also allow for a large principle prepayment if desired. After the initial period, the repayments are raised to fully amortized levels. Interest only loans can be fixed rate mortgages or adjustable rate
From Pro and Cons of Interest Only
Posted by Ryan at February 4, 2006 11:03 AM
