Interest only home loans
Potential benefits of an interest-only mortgage
Lower monthly repayments
Can help maximize tax deductions
Can free up cash to allocate to other more important goals
Who is Suitable for an Interest Only Home Loan?
In the past, investment property buyers predominantly used these loans, but they’re becoming increasingly attractive to those wishing to purchase a more expensive home, or who already have a large mortgage, as paying only the interest on a large mortgage will save you a lot more money. Also, if you’re only planning on hanging on to your property for a few years before flipping it, this type of loan can be beneficial.