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Interest-only loan |
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Interest-only loan A loan in which payment of principal is deferred and interest payments are the only current obligation. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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If you're planning on retiring in that house or paying it off, then an interest-only loan isn't for you," says Dunagan. Spinner and David Zlotnick of Meridian's New York office secured a 12-month, interest-only loan floating at Prime + 6%. But the interest-only loan, which stretches 35 years, fit her family's situation. |
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