Is there a mortgage that will be 30 year fixed with interest only for 5 years? - interest only fixed
If not so, you can only the interest each month, so remember to pay the capital? There is a rule to this situation related costs? I want to update my website, but can not afford much more than 30 years in the new place, but can not afford the interest + a couple of hundred extras who pay more than what I pay now. Is this possible?
Friday, January 8, 2010
Interest Only Fixed Is There A Mortgage That Will Be 30 Year Fixed With Interest Only For 5 Years?
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Yes it is. With a good credit score can require some kind of understanding of their finance company. Interesting that for the first five years, then the normal P & I payments for the remainder of the loan. A good way to convert to a fixed rate, especially if you have a mortgage on your home ... interest rates rise.
ReplyDeleteNo doubt you can find out, as several mortgage companies. A mortgage broker, you probably will have a queue list and ready to go. Most loan programs will not be penalized by a prepayment of principal, but not yet read some, if the fine print! The issue of the Loan Officer.
ReplyDeleteThere are always costs associated with loans, especially the "public" banks. In general, a more flexible conditions, the points or fees, etc. will be punished, protect and mitigate risk. This is a great success and a good warranty / safety assistance.