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 Post subject: mortgage loans work
PostPosted: Fri Dec 24, 2010 1:00 am 
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Joined: Wed Dec 15, 2010 5:49 am
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How exactly do 'interest only' mortgage loans work? When do I pay on the principle of such a loan? I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an interest-only mortgage loan?
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 Post subject: Re: mortgage loans work
PostPosted: Sun Dec 26, 2010 7:34 pm 
Shooting Instructor
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Joined: Thu Jun 30, 2005 2:12 pm
Posts: 4288
Location: Artesia, NM
Not sure why this is here, but...

Courtesy of our good friend "GOOGLE":

http://banking.about.com/od/mortgages/a ... onlyln.htm

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