Interest-Only Loans: What to Know
Abstract
Interest-only loans are a type of loan in which the borrower pays only the interest for some or all of the term. At the end of the interest-only term, the borrower must repay the entire principal balance in a lump sum. Most homebuyers wonβt consider this kind of loan because it often has a specific purpose, such as when flipping houses. The main reason why people don't consider this sort of loan. In this article, we will discuss everything you need to make an informed decision on the right type of loans. The post Interest-Only Loans: What to Know was first appeared first on FastExpert. Click here for more information.