In the interest-only phase, you make smaller payments, usually for a period of three to 10 years, that include only interest. Your principal loan balance won’t decrease at all during this first phase, ...

Interest-only mortgages allow borrowers to only pay for the interest that accrues on the loan for a specific period. These types of mortgages can be helpful, as the initial monthly payments are ...

An interest-only mortgage allows borrowers to make payments only on the interest of the loan for a set amount of time — typically between seven and 10 years — at the start of a 30-year term. After ...

Interest-only mortgages require only interest payments initially, raising future payment amounts. These mortgages suit those expecting higher future income or planning to sell properties soon.