Is an interest-only mortgage loan a smart move?

Answer On One Hand: Recognized BenefitsInterest-only mortgages can offer many upfront benefits. Borrowers only pay on the interest of a loan early on, providing a window of opportunity to save so they can... Read More »

Top Q&A For: Is an interest-only mortgage loan a smart move

How does an interest-only mortgage loan work?

Traditional mortgages have principal-plus-interest payments, which pay the accrued interest in full, then reduce the principal owed each month. In contrast, interest-only loans only pay off the acc... Read More »

How do I calculate the interest on a mortgage loan?

Divide the annual interest rate by 12 to find the monthly interest rate on your mortgage. For example, if your mortgage interest rate was 6.36 percent, you would divide 6.36 by 12 to get 0.53 perce... Read More »

What is a fixed simple interest mortgage loan?

A fixed simple-interest mortgage loan is one in which the interest rate remains unchanged and is calculated daily, as opposed to a traditional mortgage payment that is calculated on a monthly basis... Read More »

Why an Interest-Only Mortgage Loan Sounds Attractive?

In real estate today, it is common for people to purchase a new home with a mortgage loan. Mortgage loans can be structured in many ways, some of which appear more attractive than they are in the ... Read More »