A good reason for choosing an interest only loan:
Most people will make a decision to trade up their current house based
on equity appreciation through sales prices going up. It is rare that
the equity appreciation is based on their amortization of their 30 year
fixed rate loan. That takes far longer. Therefore, if you are
considering trading up, why not save the monthly outlay of the principle
payments? On a $500,000 loan, the difference is over $600 per month!
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