2/28 Interest Only Mortgage Loan

2/28 Interest Only Mortgage Loan

2/28 interest only mortgage loans may help rebuild the credit of a borrower to qualify for better loan conditions at a later time. The lower monthly payment of an interest only loan may help to diversify the borrower's fund and help reduce their debt if utilized correctly. Make sure the loan conditions call for a two year prepayment penalty alongside your 2/28 interest only mortgage loan program.