What is the advantage of an interest-only loan on your house?

Answer An interest-only loan allows you to pay only the interest on the loan without having to pay down the principal balance. These types of loans come with certain advantages such as being affordable.S... Read More »

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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.

Can I get an interest-only loan with bad credit?

On One Hand: Bad Credit Borrowers Can Get Interest-Only Loans.An interest-only loan allows a borrower to pay back debt only on the interest accumulated. The borrower never pays back the principal d... Read More »

How to Avoid Interest on a House Loan?

Timing is everything, and the ability to pay off your mortgage in less time may curb interest rates significantly. Oppositely, longer term mortgages lower the monthly payment and can provide a sens... Read More »

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 »