Deferred interest in fixed rate mortgages- good or bad?
|
  |
|
|
| Author |
Message |
claus
Apprentice
Joined: 09 Mar 2007
Posts: 10
|
 Posted: 07/16/08 - 05:20 Post subject: |
 |
|
| I have recently been thinking about getting a mortgage. It seems to me that the best way to buy a house is such a solution. However, I would like to know whether deferred interest in fixed rate mortgages is good or bad. Such an information could help me a lot, so if anyone could tell me, I would be grateful. |
|
|
Back to top
|
|
|
|
 |
tadio
Apprentice
Joined: 14 Feb 2008
Posts: 3
|
| Posted: 08/15/08 - 01:55 Post subject: |
|
|
| Generally, flexible mortgages are better, because even though the risk is on you, that also lowers the total amount of mortgage. With fixed mortgage, you are always paying the same rate, but it costs you more. There are various types of flexible mortgages, but if you have a decent credit rating, take any of those before taking a fixed mortgage. However, the fixed mortgage with a deferred interest is good in one case. Namely, you start with low payments which gradually increase. It is good if you do not have enough money right away, but expect to have more in the near future. |
|
|
Back to top
|
|
|
|
|
|
| |
All times are GMT
|
| Page 1 of 1 |
Related topics: | |
|
|
