How to Calculate Interest Only Loans?
If you are thinking of acquiring an interest only loan to finance your new home, you have many choices of calculators to help pinpoint the amount you will be paying each month for the initial term of the loan. You should be aware, however, that interest only loans come with a great responsibility – mainly that you should acknowledge the fact that in a set number of years you will either have to pay a large balloon payment or you will have to be able to refinance the loan. You can find more information at http://www.interest.com/content/calculat…
