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44487

44487 - Real Estate Mortgages & Home Mortgage Company Directory

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Interest First ARMs For those with stellar credit and assets, an interest first mortgage might make sense. With this loan, you pay interest only for the first 5, 10 or 15 years. During that time you can make additional payments directly to the principal, and when that occurs, the loan is “recast”, meaning the interest payments change to reflect the lower principal amount. At the end of the interest only period, the loan is amortized at the original note rate for the remaining period of time.
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44488 44490 44491 44492 44493 44501 44502 44503 44504 44505 44506