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Pros and Cons of Interest Only Loans – Non-Qualified Loan – An interest only loan is a type of non-qualified loan allows the borrower to pay only the interest on an existing mortgage.. Pros and Cons of Interest Only Loans. November 14, How about the cons? Interest only plans also have these drawbacks:
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The pros and cons of interest-only mortgages – Your Mortgage – The pros and cons of interest-only mortgages. 0. Written by: Mortgage Solutions. 12/02/2009.. If you have extra money you can overpay your interest-only mortgage and the overpayment comes straight off the capital debt. So you can repay some of your mortgage (usually 10% a year) with the.
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Interest-Only Home Loans: Pros and Cons | Canstar – Pros of interest-only home loans Lower initial monthly payments. The biggest draw of an interest-only loan is your monthly payments will be just interest for the first few years, meaning they could be significantly lower than if you were paying off your principal as well.
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Interest only mortgages: the pros and cons – Let’s take a closer look at the pros and cons of an interest only mortgage. Firstly, what is an interest only loan? As the title indicates, an interest only loan lets you pay off the interest your loan has accumulated without paying back your principal loan (the money you borrowed).
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