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.

    Mary O’Brien

    New Zealand Financial Adviser
    Financial Services Provider Register No. 43497

    Professional Investments Limited New Zealand
    Financial Services Provider No. 768358

    Trading as New Zealand Mortgage Solutions Limited New Zealand

    Trading as New Zealand Mortgage Solutions Australia

    ABN 42 154 883 672