When it ends, you'll still owe 0,000 and you'll need a new mortgage.
The key benefit of an interest-only loan is the low payment.
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With an interest-only mortgage, your monthly payment doesn't have any principal.
If you borrow $250,000 on a fixed-rate 5 percent interest-only loan, your payments will be $1,041.67 per month until the loan period ends.
Since the only commitment of this expert was to act as the keynote speaker, and also to participate in various panel discussions, he accepted the invitation given to him by the founder of this exclusive society.