This type of mortgage means that your monthly payment covers only the interest charges on your loan. However, at the end of the contract, you will still owe the original amount you first borrowed from your lender. This could be paid in one lump sum.
This type of mortgage means that your monthly payment covers only the interest charges on your loan. However, at the end of the contract, you will still owe the original amount you first borrowed from your lender. This could be paid in one lump sum.