Specialty financing option

This specialty financing option is just one of the many types of home loans available to consumers who have a variety of personal, financial requirements when purchasing a house. There are types of financing available with varying monthly payment terms, interest rates and pay off time. An interest only home loan appeals to a niche of consumers who have particular reasons for choosing an arrangement requiring payments of only finance charges for a specified amount of time. It is not a wise move for most consumers to choose them because the principle is not paid for months or years and may not prove to be the best investment.