Contrary to being posed as the abomination when it comes to taking out loans interest only loans like any other conventional loan have its advantages and disadvantages, depending on what you’re looking for.
Although by reading the name of this loan a layman would try to stay a far away from it because as the name suggests, an interest only mortgage allows you to make installments of only the interest the principal amount will always remain the same. Such a loan is usually acquired by real estates and contain the option to make an interest payment, primarily people prefer these loans because it tends to reduce their mortgage payments substantially; nonetheless Interest-only mortgages aren’t for everyone due to complexity attached to them.
Set guidelines and a streamlined underwriting process make closings happen swiftly. As fast as 48 hours
Correspondent lending gives us the ability to bring wholesale rates to the consumer
Start with some basic info about your assets, credit profile, income. As a result – amount to borrow and the rate
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