Interest Only Mortgage

Interest Only Mortgage -- is it a Good Fit for You?

There are many advantages to an interest only mortgage. Many situations exist where an interest only mortgage will be a good fit for you.

Below are just some of the circumstances where an interest only mortgage might be useful to you:

• You're in a position where your income is intermittent and would prefer to have the choice of paying as little as possible at times and bigger sums when you have more income. , A real estate agent might be a good example.
• You're investing your mortgage installment savings in other investment that is lower risk with a much higher payback than your mortgage payment.
• You find yourself in a circumstance where your income is lower for a bit but then increases again later on.
• Your mortgage is only provisional, for example; an investment property you are going to flip right away or a person who is working on a resale renovation.