What is an interest only mortgage?

Answer An interest only mortgage allows a homebuyer to pay only the interest on her mortgage loan for a specified period of time, often between three and 10 years.Adjustable Interest RatesThe interest rat... Read More »

Top Q&A For: What is an interest only mortgage

Who Do You Talk With to Get an Interest-Only Mortgage Changed to a Fixed Rate Mortgage?

Interest-only mortgages are considered to be one of the riskiest types of home loans on the market. If you have an interest-only loan, you can take the necessary steps to convert it into a fixed ra... Read More »

What Is the Benefit of an Interest Only Mortgage?

An interest-only mortgage may be a good loan product if you want to purchase a home with maximum flexibility and a lower monthly mortgage payment. This type of loan is intended for borrowers who ar... Read More »

What percentage of home mortgage loans are ARMs or interest only?

As of the first quarter of 2008, ARMs comprised 6 percent of home mortgage loans, according to U.S. Department of the Treasury Secretary Henry M. Paulson, Jr. In 2009, there were 2.8 million intere... Read More »

What Is a Reverse Mortgage Line of Credit Interest-Only Loan?

Reverse, line-of-credit and interest-only mortgages are three separate kinds of mortgages. However, they are not mutually exclusive--a mortgage can very well be all three at once.