Welcome to Home Mortgages
Mortgage Medford Article
This is a selection made from among articles on Mortgage Medford. For a permanent link to this article, or to bookmark it for future reading, click here.
Interest Only Loans. Before you make a decision, read this information.
from: Robert MooreInterest only loan is the one that gives you the possibility of paying only interest as your monthly payment. In that way you will pay a very reduced amount of money as your monthly payment; compared to the amount of money you would be paying if you add the principal to your monthly payments. Interest only loans can be 30-year fixed-rate mortgages or adjustable rate mortgages. You may find interest only loans on the market, for the first three, five, seven or even ten years. Home prices are continuously raising, so many buyers are choosing the interest-only loans option to reduce their mortgage payments and gain more financial freedom.
You may find an excellent source of information about Interest Only Loans at: www.findhomeloansonline.com
The biggest advantage of an Interest only mortgage is that you will have a reduced monthly payment; in that way you will count with extra money for other purposes. But, on the other hand, the disadvantage of it is the fact that you will not be paying anything towards the principal balance of your loan. It's important to fully understand the risks, when you decide to buy a property with an Interest only Loan. For the lender, the big advantage is that all the lender's money will be busy earning interest and none will be unprofitable return of principal, which the lender then has to lend to another borrower to keep earning interest.
During the interest only term your monthly payments are as low as they could possibly be, and you may qualify for a bigger property as well as for a bigger loan amount at the same time; and your whole monthly payment qualifies as tax deductible interest during the interest only period. If you are like most first-time home buyers, you will probably keep your property for a few years only, and then you will be moving up to a better home. Mortgage principal reduction then isn't important to you. An interest-only mortgage could be ideal for you.
It's important to understand that during the period of time you are holding an interest only loan, your property is building equity just as if you would be holding a fix rate mortgage. The type of loan you choose to buy your property will not affect the equity of your home.
About the Author
My name is Robert Moore, and on my over 10 years of experience working on the mortgage industry I have learned that the biggest mistake a borrower may make is to get a loan without getting enough knowledge of what is the best program on the market.
To learn more about Interest Only Loans, please visit:
www.findhomeloansonline.com
Copyright 2005 Robert Moore, All Rights Reserved.
Mortgage Medford Specific links
Blinkx Video Search
- World's largest video search engine. Over 26 million hours of video.
-- http://www.blinkx.com/
Watch Free Videos At Mevio!
- Tons of Free Videos, Only At Mevio.com
-- http://www.mevio.com/
Free Tech and Gadget Reviews!
- Watch GeekBrief With Cali Lewis on Mevio!
-- http://www.geekbrief.mevio.com/
Free tech talk and news video!
- Watch Tech5 with John C. Dvorak now!
-- http://www.tech5top5.mevio.com/
Discover New Music
- Music Fans Discover, Enjoy & Reward The Best New Bands. Join Today.
-- http://www.ourstage.com/
Mortgage Medford News
SHORELINES: Of jingle bells, embezzlers and geeks - North Shore Sunday
SHORELINES: Of jingle bells, embezzlers and geeks North Shore Sunday, MA - Poor Medford. First, Georgia is always challenging its claim that “Jingle Bells” was written within Medford city limits. We sense a bias on the part of ... |
Hospice helps families have special Thanksgiving together - Cherry Hill Courier Post
Hospice helps families have special Thanksgiving together Cherry Hill Courier Post, NJ - ... both entered hospice care at her Medford home just a month earlier. Samaritan cared for Van Sant's parents and the hospice joined with PHH Mortgage to ... |
Can This House Be Saved? - LongIslandPress.com
 LongIslandPress.com | Can This House Be Saved? LongIslandPress.com, NY - This formerly vacant, foreclosed house in Medford that had been utilized in a real estate scam recently hosted its final open house and was sold, ... |
People in business - Mail Tribune
People in business Mail Tribune, OR - Monte Herzog has joined KeyBank's Grants Pass mortgage lending staff, while Eecke Nolan is now part of KeyBank's Medford mortgage lending staff. ... |
RENTERS, BEWARE - Mail Tribune
RENTERS, BEWARE Mail Tribune, OR - Kimberley Wyttenberg of Medford moves into a new apartment after he was forced to move when his former apartment went into foreclosure. ... |
» Morning News,11/26/08 Morning News,11/26/08 - Immigration Blog
» Morning News,11/26/08 Morning News,11/26/08 Immigration Blog, DC - By Anne Barnard Medford, NY -- Jeffrey Conroy, friends of his family say, is warm and patient with younger boys, admired by peers and adults as a promising ... |
Low-income home program hits snag - Mail Tribune
Low-income home program hits snag Mail Tribune, OR - By Paris Achen Eight townhouses built in part with a city of Medford grant meant to promote home ownership among low-income residents will be turned into ... |
Council on Aging Events - Melrose Free Press
Council on Aging Events Melrose Free Press, MA - 2, 7-8 pm, Knights of Columbus, 23 West Foster St. — Open also to adult residents of Wakefield, Malden, Stoneham and Medford. Many volunteers are needed to ... |
Merkley to push for timber payments - Mail Tribune
Merkley to push for timber payments Mail Tribune, OR - The Oregon Senator-elect appeared before about 50 campaign volunteers and Democratic leaders at the Higher Education Center in downtown Medford. State Sen. ... |
Economy 'resilient,' Thorndike believes - Mail Tribune
Economy 'resilient,' Thorndike believes Mail Tribune, OR - By Greg Stiles It's been a whirlwind six years for Bill Thorndike Jr., perhaps more than the 54-year-old Medford Fabrication president bargained for when he ... |