eMortgage

What is an interest-only mortgage?

Interest-Only Mortgage: Understanding the Basics

An interest-only mortgage is a type of mortgage where, for a set period of time, your monthly payments consist solely of interest charges on the loan balance; unlike a conventional loan, where monthly repayments include both interest and principal fees, an interest-only loan allows borrowers to defer principal payments for a certain period. This feature… Continue reading What is an interest-only mortgage?

How do I calculate my mortgage interest payment?

What is Loan Interest? Loan interest is the amount  that you pay to a lender in exchange for them lending you money. It is essentially a fee charged for the privilege of borrowing money, and it is typically paid to the lender on a monthly basis. The actual amount of interest that you pay will… Continue reading How do I calculate my mortgage interest payment?

How Does Mortgage Interest Work?

Everyone dreams of owning their own home, but not everyone is able to pay for one outright. A mortgage loan helps make homeownership possible by allowing people to finance their homes through a bank or other lending institution. By borrowing money from a lender and using your home as collateral, you can get a loan… Continue reading How Does Mortgage Interest Work?