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QUESTION: I purchased a home and then sold the home I was living in. I have a lot of cash to put down to lower my new mortgage now and wondered what is the best way to do so.
February 15, 2019
QUESTION: I have been told that credit inquiries can really lower my credit score? How much does it hurt me if I have an inquiry.
February 15, 2019

QUESTION: What are the advantages and disadvantages to an interest only loan? I like the lower payments!

Answer:

The lowest payment you may find on a mortgage is an interest only program. The most popular product on an interest only loan is an ARM product, and those rates are even lower than fixed rates normally. Just like it sounds you are only paying interest only so payments are low, but you will not have any principal reduction on your loan, and most of the time they have tougher qualifying requirements.

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