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Straight Term Mortgage


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Straight Term Mortgage. A straight mortgage is a type of loan where the borrower only pays interest during the term of the loan, with the entire principal amount due at the end of the term. A straight mortgage loan is designed so that the borrower pays only the interest until the end of the loan term.

5 Types of Mortgages to Help You Purchase a Home
5 Types of Mortgages to Help You Purchase a Home from www.lexingtonlaw.com

For instance, consider a $100,000 straight loan with a fixed 6% interest rate for five years. These loans are also called term loans (true but vague) and straight loans. Discover the fundamentals of a straight term loan, how this predictable financing option works, and what to consider for your borrowing.

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5 Types of Mortgages to Help You Purchase a Home

Straight loans (term loans) are a way for borrowers to get money up front without having to pay the loan principal right away. A straight loan is a loan that requires only interest payments until the end of the term, when the principal is due. Learn how straight loans work,. At their core, straight loans allow borrowers to make only interest payments throughout the term of the loan.

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