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- Interest-only loan
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Interest-only loan
The pays only the interest that accrues on the loan balance each month. Because each payment goes toward interest, the outstanding balance of the loan does not decline with each payment.
Related Terms
Compound interest
Prepaid interest
Interest rate
Add-on interest
Interest
PITI (Principal Interest Taxes Insurance)
Two-step mortgage
Step-rate mortgage
Usury
Amortization
Rate lock
Tax deduction
Fixed-rate mortgage
Negative amortization
Per-diem interest
Adjustable-rate mortgage (ARM)
Rate-improvement mortgage
Mortgage-interest deduction
Buy-down mortgage
Variable rate mortgage
Variable interest rate
Interest rate buy-down plans
Interest rate ceiling
Lock-in
Initial interest rate
Certificate of deposit index
Interest accrual rate
Foreclosure
Loan origination fee
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