From: John Fewster
Just a simple loan question.
If I was to take out a 30 year P.& I. loan with the first 5 years as I.O., what would the loan balance be at the end of the 30 years? Would it be zero? Or would there be a residual amount left over?
Is there an option to choose which way to go?
Just a simple loan question.
If I was to take out a 30 year P.& I. loan with the first 5 years as I.O., what would the loan balance be at the end of the 30 years? Would it be zero? Or would there be a residual amount left over?
Is there an option to choose which way to go?
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