Interest Only Mortgage? Consider A Graduated Payment Mortgage

Graduated payment mortgages (GPM) offer financing solutions for those who expect their income to rise in the future. A hybrid of an adjustable rate mortgage and fixed-rate mortgage, a GPM with its fixed interest rate starts with low payments that increase yearly based on the loan�s terms. If you have considered an interest only mortgage loan in the past, you might want to consider the benefits of a graduated payment mortgage instead.

GPM Features

A GPM offers low monthl…

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Using a Second Mortgage for an 80-20 No Money Down Home Purchase Loan

Many renters want to own their own home, but they simply don�t have the down payment to make the purchase. If you�re able to afford a house payment as much as your monthly rent, an 80-20 no money down purchase loan could get you out of the rent trap. (80% first mortgage – 20% second mortgage)”It allows people to buy a home without a down payment, or for those people who would prefer not to touch their savings to get into a house,” says mortgage expert.

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On My Taxes, Is There A Limit To The Amount Of Mortgage Interest That I Can Deduct?

Each year, there is a limit as to the amount that an individual can deduct from their taxes in response to the amount of mortgage interest that the individual has paid over the course of the year. In the cases listed below, the average limitation has been defined. Some individuals will notice that they are further limited. This occurs in specific and individualized situations.

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