– Mortgages with interest-only payment options may save you money in the short-run, but they actually cost more over the 30-year term of the loan. However, most borrowers repay their mortgages well before the end of the full 30-year loan term.
Interest-only Mortgage Calculator – Mortgage Calculators Plus – Interest only mortgages are just what they sound like. Here, you will pay for your loan in terms of just interest, with very little principle. The benefit is that you.