Seeking opinions/feedback on interest only loans. We are new investors having just three rental properties and want the pro's and con's of financing with interest only loans compared to fixed rate 30 year loans. Our local bank is offering a 30 year fixed rate at 5 1/4%. Thank you!
Why go for an interest-only if you can get a fixed-rate? Fixed rates are always the way to go in my opinion. Way less dangerous.
What are the rest of the terms forthe IO loan?
years to balloon?
payment/month compared to fixedrate loan?