Interest Only Mortgage

Loan Application Alert : Conforming, Interest Only Mortgages Guidelines Change Next Week

June 16, 2010 by admin · Leave a Comment 

If you plan to finance your Shipshewana home with a conforming interest only mortgage, get your loan application submitted no later than this Friday, June 18. 
Starting next week, Fannie Mae is clamping down on the popular loan product.
An “interest only” mortgage is exactly what its name implies — a mortgage for which the monthly payments [...]