Interest-Only Loan
A loan where only interest is paid for a set period
Full Definition
Why It Matters
Understanding interest-only loan helps you make informed decisions about your mortgage. This knowledge can save you money and help you avoid common pitfalls in the homebuying process.
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Frequently Asked Questions
Interest-Only Loan refers to a loan where only interest is paid for a set period. This is an important concept in mortgage lending that affects how your loan works.
Understanding interest-only loan can help you make better decisions about your mortgage. Contact NMHL for personalized guidance on how this applies to your situation.
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