Interest Only Mortgage
Despite the risks of these loans, an I-O mortgage payment or a payment-option ARM might be right for you if the following apply:
- you have modest current income but are reasonably certain that your income will go up in the future (for example, if you’re finishing your degree or training program),
- you have sizable equity in your home and will use the money that would go toward principal payments for other investments, or
- you have irregular income (such as commissions or seasonal earnings) and want the fl exibility of making I-O or option- ARM minimum payments during low-income periods and larger payments during higher-income periods.
Read below more on Interest Only Mortgage Payment:
What is Interest Only Mortgage Payment
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