Can Interest Only Loans be Refinanced?

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Can Interest Only Loans be Refinanced?
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By Mary Wise

Interest Only Loans

An interest only loan is a loan where the borrower requests a fixed amount of money and the monthly payments consist only on interests on the principal. The principal is not reimbursed to the lender till the end of the loan term. Thus, monthly payments are low but at the end of the loan duration, the principal has to be repaid in full.

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There are variations of this kind of loan where after a certain period of time the interest only installments turn into

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