Interest-only home loans are a phenomenon that has been gaining strength and popularity over the last decade or so. The fundamental principle of an interest-only home loan is that the buyer is only responsible for paying the interest on the mortgage for a fixed period of time, often between five and seven years. This sounds fantastic until that interest-only period has expired and its time to pay off the principal, on which you havent made any progress since you signed the m…
Interest Only Loan
Interest Only Mortgages is a risky product and does have its disadvantages it a tricky form of mortgage because it can be misleading as the payment is very small for the first 1,2,5,7 or even 10 years. The Interest Only Mortgage will have a balloon payment for the entire principal balance at the end of the loan term. Interest only mortgages might be beneficial for people in markets where houses appreciate rapidly and the plan is to remain in the house for only a couple of yea…
Choosing The Right Mortgage
Remember you would not buy the first house that was offered to you, so why go with the only mortgage that is offered to you. Ask for more than one good faith quotes. See what options different lenders will give you. Be sure to ask the lender to not pull your credit report, but to give you a good faith quote based on the paper credit report you will have brought to him.
Types Of Mortgage
Buying a home is one of the biggest commitments you will ever undertake. So choosing your mortgage does take thought. Take some time to consider what mortgage is right for you. Here is a review of the various types of mortgage available, which may help you make an informed decision.
Interest Only Mortgage Can It Save Me Money ?
If you have ever though about getting an interest only mortgage this article will tell you in detail the possive and the negative aspects of an interest only mortgage.
Interest Only Mortgage Is It For Me ?
If you have been thinking about an interest only mortgage this article is a good read, as the terms on interest only is talked about here.
Interest Only Mortgage Should I Get One ?
Thinking of getting an Interest only mortgage this article will tell you the basic that you need to know about this mortgage product