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Interest-Only Mortgage Refinance
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Some types of mortgages include fixed mortgages, adjustable rate mortgages and interest only mortgages. Le… More
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One benefit of interest only mortgage refinance is increased cash flow. Discover the other benefits of int… More
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Summary: One benefit of interest only mortgage refinance is increased cash flow. Discover the other benefits of interest only mortgage refinance with expert tips from a registered financial consultant in this free video on financial planning.
Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more
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"This is Patrick Munro discussing about the benefits of interest only on a mortgage refinance. Many individuals are conscious of there cash flow and it's great to enhance that cash flow by not having to pay as large a payment as you would traditionally have to pay. Back in the early days of mortgage financing there was only one payment and that was a thirty year fully amortized principle interest and tax payment. It limited the amount of house you could buy, the size of the house you could buy, because the payment was really for everything. Nowadays individuals can defer a lot of the load of that payment and end up in a bigger home and of course have an interest only payment available to them. It's a great financial planning tool but you have to be mindful of it's usage going forward as well and make the odd principle payment in order to reduce the overall exposure. This is Patrick Munro discussing the benefits of an interest only payment."
eHow Article: Interest-Only Mortgage Refinance
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