Just financed the wife’s education and internship using an interest only loan. I’m on the last year and going to have to bite the bullet and re-fi. I’ve got the original price of the house safely built up in equity and plan to sell in the future. I may even get another I/O loan. Building income power is a good use of the I/O loan. Buying new cars and boats may not be. I paid a bit on the equity during the I/O loan but I’d say don’t plan on paying too much to equity. Life gets in the way and the ol’ grasshopper and the ant scenario reveals we are closer to grasshoppers than ants. Most guidance is negative but specific cases can utilize an I/O loan to an advantage. I’d do it. I’m living in 3000 s.f. for 1500 a month. I’d be 75 with a 30 year when the last check is written. Ain’t gonna happen.