Interest-Only Loan
An interest-only loan is a mortgage option where borrowers are required to make payments that cover only the interest portion of the loan for a specified period, usually ranging from 5 to 10 years.
During this initial phase, the principal amount remains unchanged. This type of loan can offer lower monthly payments compared to traditional mortgages, allowing borrowers to allocate funds elsewhere. It is particularly appealing to individuals with fluctuating income or those seeking to invest their money elsewhere for potentially higher returns.
However, it’s essential to note that once the interest-only period ends, borrowers will need to begin paying both principal and interest, potentially leading to higher monthly payments. Interest-only loans can be beneficial for those with specific financial strategies but require careful consideration to ensure long-term financial stability.
At Relentless Mortgage Group, we are dedicated to embracing a “Resilient” Approach to ensure every client finds the best loan options.
Additional information
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Creating a list of potential qualified prospects for your service or product can be daunting when you’re beginning your business. However, this needs to be considered as a follow up on your Target Market Analysis so you can hit the ground running.
Pros and Cons
A strong business plan requires going beyond intuition and experience, and supporting your idea with fact-based market research. Investors need to have confidence in your understanding of the market, so don’t let yourself down by skimping on research. We have access to fee-based, subscriber-only resources such as:
- Don James/Semplice – Article and News Research
- VoltageBusiness – Company and Industry Research
- Goovers – Company and Industry Research
- IRISpace – Article and News Research
- Lexos-Nexos – Company, Industry, Market Research
- Plombett – Article and News Research
- Pronounce – Market Analysis report “Slices”
Research & analysis
how can we help you?
At Relentless Mortgage we promise to provide complete transparency backed by “5 Star Service” from start to finish.
How do I say this! Ever feel that someone genuinely cares about your clients and your needs! Well with Joshua and his awesome Relentless team you feel that you are getting that top notch 5 star service! His team is clear in communication and is always ready to go the extra mile for their clients needs! We highly recommend anybody that ever has lending question to reach out to them! They will go the extra mile for you and your family!!!
