Hi, my broker just advised me that the usual Interest only period with most lenders is five years after which the loan could be either refinanced or converted into PI... Is this a valid statement?
On 30 year loan the first five years on PI loan will comprise mainly of onterest repayments in case of annuity formula...
On 30 year loan the first five years on PI loan will comprise mainly of onterest repayments in case of annuity formula...