Hi,
As far as I understand, buy & hold investors would normally set up the loan with an initial IO terms, then extend this IO term when it expired (ie: after 5 years), and repeat this process to have the IO term for as long as it could until wind down.
Now if the age of the investor is in the 30 or 40, the loan term (ie: 30 years) may not be a problem, but what if they are in the 50, 60 or maybe 70, would the bank use Age as a factor to reject the extension of the IO term...???
Super.
As far as I understand, buy & hold investors would normally set up the loan with an initial IO terms, then extend this IO term when it expired (ie: after 5 years), and repeat this process to have the IO term for as long as it could until wind down.
Now if the age of the investor is in the 30 or 40, the loan term (ie: 30 years) may not be a problem, but what if they are in the 50, 60 or maybe 70, would the bank use Age as a factor to reject the extension of the IO term...???
Super.