Category Archives: Mortgage Interest Only
Interest only mortgages are a relatively new phenomenon in the re-financing industry as well as the home buying industry. While the appeal of an interest only mortgage is typically a greater monthly cash flow, this increased cash flow can come with a hefty price tag.
An interest-only loan has become a very popular choice of the many Washington home loans that are available. What is making this type of loan so popular? What other options are available to potential Washington home buyers.
There are several mortgage companies that offer a rich array of loan products of services. Below is short list of these mortgage companies.
Every person who has ever bought a home with a mortgage knows that by the time the pay off is made on the mortgage more is paid to cover interest costs than the actual purchase price of the house.
Interest-only mortgage rates are based on fixed rate payments. Some interest-only mortgage rates are set on adjustable rate payments. Whichever is the case, interest-only mortgage rates are always tied to the libor index.