Interest Only Mortgage | Jargon Buster on Chase De Vere Mortgage Management
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Interest Only Mortgage

Interest Only Mortgage

In other words

With this type of mortgage you simply pay the cost of borrowing funds from the lender. No repayment of the loan is included in t

Definition

With this type of mortgage you simply pay the cost of borrowing funds from the lender. No repayment of the loan is included in the monthly payments, which means at the end of the term you will still have the same loan balance outstanding.