Mortgage loan in which periodic installments cover only the interest amount and do not reduce the outstanding principal which is paid in a lump sum at the end of loan period. The borrower may be given the opportunity to change the loan to a principal and interest loan at the end of the period.
Related information about interest only mortgage:
- Interest-Only Mortgage Tutorial - Mortgage Professor
This tutorial assesses the costs and benefits of the interest-only option, the situations where it might make sense, and the situations where it doesn't.
- Interest-only loan - Wikipedia, the free encyclopedia
At the end of the interest-only term the borrower may enter an interest-only mortgage, pay the principal, or (with some lenders) convert the loan to a principal and ...
- Interest-only mortgage calculator
Bankrate.com provides FREE interest-only mortgage calculators and loan calculator tools to help consumers learn more about their mortgage payments.
- Interest Only Mortgage Calculator Home Loan Mortgages Calculators
Bankrate.com provides interest only mortgage loan payment calculators and an interest only home loan calculator, free.
- Beware The Interest-Only Mortgage - Forbes.com
Jun 6, 2005 ... The danger lies as much with the bank that loaned the money as the home owner who borrowed it.
- Interest Only Mortgages - What is an Interest Only Mortgage ...
Definition of interest-only mortgage. Understanding mortgages with an interest- only option.The pros and cons to obtaining and interest-only mortgage.
- Interest Only Mortgage Calculator
The Interest Only Mortgage calculator will help to determine what the amortization schedule will be for an interest only mortgage. The calculator will also help to ...
- Interest-Only Mortgage Definition | Investopedia
A type of mortgage in which the mortgagor is only required to pay off the interest that arises from the principal that is borrowed. Because only the interest is being ...