Home › Forums › Housing › 15 year jumbo interest only › You have not given enough
You have not given enough info to determine whether this is a good loan or not.
I’ve seen 3-, 5-, 7-, and 10-year IOs that convert to fully amortized loans for the remaining 15 years.
Does this 15-year IO loan convert to fully amortizing for 15 remaining years after the initial term or is the term longer ?
Is it a balloon ?
What is the margin, index, and cap ?
On the surface it sounds like a 15-year rent with an option to purchase (and sell) at any time before that.
