Interest-only mortgages are pushed aggressively nowadays by lenders and brokers, but they’re not for everyone. An interest-only mortgage might be a good fit for: someone whose income is mostly in the form of infrequent commissions or bonuses; someone who expects to earn a lot more in a few years; someone who truly will invest the savings on the difference between an interest-only mortgage and an amortizing mortgage, and who is confident that the investments will make money. Financial advisers don’t recommend interest-only mortgages to regular wage earners who take out moderate-size home loans and don’t have a strategy for investing the savings.

There are some great interest only loans available online.

adminLoans7 Mar, 2008