Interest Only Loans

February 29, 2008 by Admin · Leave a Comment
Filed under: Articles 

I was just at the bank and have to say I’m concerned. I’m concerned about the continual sales pitch for Interest only loans. You would think with all the fallout in the banking industry from loans that hove gone bad they would want their borrowers to pay down the balance a bit.

For the borrower, my question is WHEN do you think you are going to pay the home off?

Why do you think you can really afford a home that requires you to have an interest only loan to qualify in the first place?

How much home can you qualify for with a traditional Principal, Interest, Tax and Insurance payment? HOA?

OK, off my soapbox…

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