Because most
of the time the interest on a home is tax
deductible your mortgage may be the lowest rate
you pay on any debt. For this reason an interest
only loan may be an excellent way to keep your
mortgage payment low so you can divert the money
saved to pay down other debts with higher
interest rates. An interest only loan can also
be a benefit for those stretching to get into a
home that they believe will continue to
appreciate over the long term. Although interest
only loans are not for everyone, in many
instances they can be yet another tool in
helping you to reach your financial goals.
