Curiosity solely mortgage types: Any such loan is for a set term, that the borrower pays only the curiosity on the principal steadiness, with principal balance unchanged. It’s sub divided to three/1 ARM(IO), 5/1 ARM(IO), 7/1 ARM(IO), 3/1 ARM(IO)refi, 30 12 months fixed(IO), 30 12 months mounted (IO) refi etc.
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