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lookout123 · 03-06-2005, 10:31 PM

i don't know the ad you are talking about, but int. only loans are not new. or bad, for the right individual. if you plan on paying a home off and living in it for many years, move along, this isn't the loan for you. but if you aren't planning on being there more than 3-5 years (which is about average) and you have the discipline to save the difference between an amortized loan and an int only loan, then it is a very useful tool. YMMV.

there is no way to get tricked into this loan unless you are just brain dead. there are so many disclosures within your loan process that it would truly take a world class moron to not understand the difference.

03-06-2005, 10:31 PM	#22
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	i don't know the ad you are talking about, but int. only loans are not new. or bad, for the right individual. if you plan on paying a home off and living in it for many years, move along, this isn't the loan for you. but if you aren't planning on being there more than 3-5 years (which is about average) and you have the discipline to save the difference between an amortized loan and an int only loan, then it is a very useful tool. YMMV. there is no way to get tricked into this loan unless you are just brain dead. there are so many disclosures within your loan process that it would truly take a world class moron to not understand the difference. __________________ Getting knocked down is no sin, it's not getting back up that's the sin