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Pros and Cons of Interest-Only LoansBy JJ SinghLoanPage Columnist ![]() ![]() In the last few years, interest only mortgages have become increasingly trendy. On the surface they look like great alternatives, but there are risks you should be aware of. ![]() Loading.....
Pros
Cons
The interest only mortgage is an interesting alternative, but it should be used with caution. Your first task should be to determine what your priorities are when buying a home. If you'd like to be there for the long haul, it's probably not your best bet. Conversely, if you're confident the market will do well and it's a short-term investment, this type of new home loan can net you a huge return. About the AuthorJJ Singh is a loan consultant who has mortgaged his life away to the micro finance industry in New York City. He holds a bachelor's degree in Economics from the University of Virginia.Sources:Mortgages: Beating higher rates |
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