Yes, you read that right. Bankrate.com discusses the loan program and whether it's a viable alternative to interest-only loans.
The bottom line? Although it's tempting to have lower month payments, you won't be building equity. (In fact, depending on fluctuations in the real estate market over the next ***half-century***, you could end up owing more than the house is worth.)
Compass Mortgage offers a number of 15-year and 30-year mortgage loan programs that allow you to buy a house you can afford while also building equity. For details, contact us today at (603)472-2272 or visit www.CharleyFarleyHomeLoans.com
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