Who are the best candidates for interest-only home loans?
• Homeowners who are just starting out. • Borrowers with commission or bonus income. • Home buyers in high priced markets. • Borrowers who want to reduce other higher interest debt. • Investors seeking more liquid investments.Each mortgage loan product you consider when refinancing your current home loan, or when purchasing a new home, comes with different benefits. However, in order to make the smartest decision, take some time and consider your options and talk to a trusted loan officer, tax advisor, or financial planner who can help guide you to the correct mortgage loan program. Remember, the money you save will be your own. About the Author Sheryl Landrum is a Senior Loan Officer with First Capital Mortgage in San Diego and Prudential Realty in Bonsall, California.
