Has anyone gone down the road of interest only loans for a mortgage? You make interest only payments for the first 5, 10, or 15 years then regular mortgage payments with interest after that initial period is up. Pros: The entire interest initial payments are tax deductible. You can take the principal portion of the loan you are not paying and invest it. Great for people not planning to make the home their final residence. Cons: Need to be a disciplined saver/invester. Monthly payments increase dramatically after initial period. ? ? ? Looking for anyone who might have experience with this type of loan. Thanks! Mike
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