They are officially available from certain lenders, but they have been fairly uncommon. Such financing is actually riskier to own loan providers, and because they’ve been considered non-compliant fund, interest-merely mortgage loans dont meet Federal national mortgage association and you will Freddie Mac guidance.
Today, such money are typically something which is present to individuals whom was individual readers otherwise possess a brilliant reference to the financial, says Helali.
Its really worth asking from the whenever you are towards a beneficial terms towards the regional branch of your own prominent bank otherwise borrowing union, however, you’re probably perhaps not browsing pick an interest-merely home loan among offered characteristics at a facilities you have just joined up with. (mehr …)