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| Name | What Is an Interest-only Mortgage? | LowerMyBills |
| Video Uploader | Video From LowerMyBills |
| Upload Date | This Video Uploaded At 08-11-2022 18:43:52 |
| Video Discription | Learn more: https://bit.ly/3DPEIy0 00:00 Introduction 00:30 Traditional Mortgages 1:30 Interest-Only Mortgages 2:37 Potential Risk 3:11 Reasons To Have An Interest-Only Mortgage 4:25 Traditional vs. Interest-Only 5:56 Pros & Cons 7:46 Closing An interest-only mortgage is a nonconforming loan where the borrower can pay only the mortgage interest for an initial period. Nonconforming loans don’t adhere to the rules set by Fannie Mae and Freddie Mac, which are government-sponsored enterprises that back conforming loans. That’s why the features and requirements of interest-only mortgages can vary widely. Of course, borrowers must repay the principal balance on an interest-only mortgage. But repayment isn’t expected until after the interest-only period ends. Featuring Avery Heilbron, Financial Educator Follow LowerMyBills: Instagram: https://www.instagram.com/lowermybills/ Pinterest: https://www.pinterest.com/lowermybills/ Facebook: https://www.facebook.com/lowermybills/ LinkedIn: https://www.linkedin.com/company/lowermybills Twitter: https://twitter.com/lowermybills/ TikTok: https://www.tiktok.com/@lowermybills LowerMyBills does not endorse, warrant, or guarantee any financial product, service or company and makes no representation of any rates or financial programs. The content displayed on LowerMyBills or in this video does not provide legal, financial, accounting or tax advice. [41Dh_b9T1hc] |
| Category | Education |
| Tags | mortgage | mortgage types | interest-only | interest-only mortgage | what is an interest-only mortgage | what is an interest only mortgage | what is a mortgage | how to buy a home |
