July 21st, 2009
raju79
ronidl76 asked:
I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an interest-only mortgage loan?
Posted in Renting & Real Estate
Tags: Bad Idea, Interest Only Loan, Interest Only Mortgage Loan
July 13th, 2009
raju79
Angel M asked:
There’s a company that’s offering 1.5% APR interest only loan for anyone that has a credit score of 620 or above. They advised that if I take the $800 in savings and invest it, I can use the savings to pay off all of my outstanding debt. In 5 yrs after the loan is over we would do it again but because it’s interest only that I’m paying the amount of the new loan will be more than the original loan. We just need some professional advise.
Posted in Renting & Real Estate
Tags: Interest Only Loan, Loan Refinancing, Refinancing Your Home
