http://www.bankaholic.com/finance/801010-mortgage-financing-explained/ Blogging about personal finance, foreclosures, mortgages, interest rates, and budgeting. Fri, 19 Mar 2010 15:47:03 -0400 http://wordpress.org/?v=2.8.4 hourly 1 http://www.bankaholic.com/finance/801010-mortgage-financing-explained/comment-page-1/#comment-989 What are Interest Only Loans? at Mortgage Calculators - Home Mortgage Loan Calculator Wed, 05 Mar 2008 19:31:31 +0000 http://www.bankaholic.com/finance/801010-mortgage-financing-explained/#comment-989 [...] There are several positive elements of an interest-only mortgage. The most obvious are the lower monthly payments. Initially on this type of loan, the borrower only pays the interest, which is much less expensive than paying interest and principal together. These types of loans are great for younger borrowers who are starting out their careers and predict that they will see a pay increase over time, and once the interest only period expires, they will be able to pay both principal and interest together. [...] [...] There are several positive elements of an interest-only mortgage. The most obvious are the lower monthly payments. Initially on this type of loan, the borrower only pays the interest, which is much less expensive than paying interest and principal together. These types of loans are great for younger borrowers who are starting out their careers and predict that they will see a pay increase over time, and once the interest only period expires, they will be able to pay both principal and interest together. [...]

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