An interest-only mortgage is a type of mortgage in which the mortgagee (borrower) only has to pay interest on the loan for a certain period of time. The capital is paid at the same time in installments on the same date or later.
- An interest-only mortgage is a mortgage in which you pay interest only for the first few years of the loan, not your payments, which are principal and interest.
- Interest can only be paid for a certain period of time, it can be optional, or it can be maintained for the entire term of the loan (where you pay the full amount).
- Interest-bearing loans are usually developed as a special form of adjusted mortgage.
- Although net interest mortgages mean less payments over time, it also means that if the term ends with interest only, you won't add much to the equity and payments.
A home loan where you can only pay the interest portion of the mortgage every month.
Literal Meanings of Interest-Only Mortgage
Meanings of Interest:
Create curiosity or concern (no)
The state of wanting to know or learn something or someone.
Amount that is paid for using a loan borrowed from a permanently repaid amount or for delaying the repayment of loans.
Benefits or benefits of a person or group.
A company's process, act or action, especially of a financial nature.
A group or organization that has a particular common concern, especially in politics or business.
Sentences of Interest
I think Eric might be interested in this book.
He looks around with interest
Integration is not in the public interest
Voters must declare their interests
Code of National Interests in India, Brazil and Africa
Synonyms of Interest
be attractive to, heed, fascinate, for the sake of, stock, returns, claim, intrigue, for the benefit of, notice, to the advantage of, absorption, dividends, portion, of benefit to, stake, attentiveness, attract, regard, engrossment, equity, scrutiny
Meanings of Only:
Nothing more, either alone or exclusively.
Not more than that.
With negative or unfortunate consequences.
Alone, alone or alone.
Plus, it's like that.
Sentences of Only
A limited number of cards available.
To block the road only, change to a parking lot.
Only the medal we have won
Synonyms of Only
as little as, individual, unique, at best, sole, just, at most, exclusive, only possible, solitary, only just, one and only, single, not more than, one, lone, no more than
Meanings of Mortgage:
Transfer (assets) to lenders as collateral.
A legal arrangement in which a bank or other lender lends money to the borrower in return for interest, provided the transfer of ownership is canceled after the loan is repaid.
Sentences of Mortgage
The farm is in mortgage
I deposited one lakh cash and took out a mortgage from the rest
Synonyms of Mortgage
put up as collateral, advance, mortgage, pawn, guarantee, credit