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Home interest only mortgage loan

What's a home interest only mortgage? It's a mortgage loan that you only pay interest on until the end of your mortgage-term.

This mortgage is indispensable! If you don't want to pay back any principal (the amount you borrowed) during your home mortgage loan term, get this mortgage-type!

By getting an 'interest only mortgage' - you'll only have to pay back interest during your mortgage loan term making it truly affordable for you to start owning a home or multi-residential real estate. Only paying interest can make owning home estate even more affordable than renting. And it can make it affordable for you to start renting out a home or multi-residential estate. Then you'll make cash.

If you use this mortgage type for debt consolidation, your interest only mortgage-payments can be more affordable than credit card or loan payments.

Idolizing equity take out? Only making interest payments on your mortgage, can make it affordable for you to get cash out of your home estate.

Interested in a line of credit? Get one with an interest-only mortgage, and it can be more affordable than a bank line of credit.

Get this mortgage today! Fill out the home mortgage application.

Learn about the rates, amortization, terms and down payments for home interest only mortgage loans

Rates for interest only mortgages

For the interest only mortgage loan, you can get these rates if you use an institutional or private lender:

  • Fixed rates
  • Adjustable rates
  • Convertible rates

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Amortization for interest only mortgages

There's no amortization for interest only mortgage loans at all.

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Terms for interest only mortgages

If you use an institutional lender, these are the terms you can get for mortgage loans:

  • Short terms (6 months to 5 years)

If you use a private lender, these are the terms you can get for mortgage loans:

  • Short terms (6 months to 5 years)
  • Long terms (6 years to 18 years)

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Down payments for interest only mortgages

You can make these down payments on this mortgage loan type if you use an institutional lender:

  • Down payments 25%-95% of your real estate's value

You can make these down payments on this mortgage loan type if you use a private lender:

  • Down payments 5%-25% of your real estate's value
  • Down payments 25%-95% of your real estate's value
  • No down payment (0% down)

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Want definitions of mortgage loan terms? Go to the mortgage glossary.

Find out more about interest only mortgage loans, by contacting The Mortgage Store Online's brokers. Just use the contact form or call them at 1-866-880-2577.

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