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From: Anonymous
Recently enquiring about purchasing an investment property with the bank on an interest only bases i was told that they only do interest only for a maximum of 5 years then after 5 years the loan converts to principle & interest.
Does anyone have any suggestions,is this normal who do you guys all finance with? i was hoping to finance IO for the life of the loan not 5 years?
Recently enquiring about purchasing an investment property with the bank on an interest only bases i was told that they only do interest only for a maximum of 5 years then after 5 years the loan converts to principle & interest.
Does anyone have any suggestions,is this normal who do you guys all finance with? i was hoping to finance IO for the life of the loan not 5 years?
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