Principle and Interest vs Interest Only Mortgage

A fixed rate mortgage is on an interest rate on your home loan that is guaranteed not to change for the specified fixed rate period. There are a variety of fixed rate terms.Interest Only fixed rate means your loan balance remains the same amount over the period designated by you and the bank and you are only obliged to pay that amount without principle for a set term.

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    Content on this website is general in nature and is not a recommendation, opinion or guidance to any individuals in relation to acquiring or disposing of a financial product. Readers should not rely on this content and should always seek specific financial advice appropriate to their own individual circumstances.

    Professional Investments Limited New Zealand (Financial Services Provider Register No. FSP768358 NZ Companies Office).

    Mary O'Brien is a Registered New Zealand Financial Adviser (Financial Services Provider Register No. 43497 NZ Companies Office) 

     Mary O'Brien is a Credit Representative (Credit Representative No. 398565) of Ozloans Finance Pty Ltd ABN 56 090 913 607 (Australia Credit Licence No. 391829)