From NerdWallet.com…..
An interest-only mortgage is one of the many types of mortgage options available today. While this is not as popular as it was before the 2008 financial crisis that left banks stricter about their lending options, there are still some lenders out there who are willing to offer interest only-mortgages, though they can be trickier to obtain.
Interest-only mortgages are considered higher risk than other types, so as with any financial decision, they’re not to be rushed into. Your future finances will no doubt thank you for taking some time in advance to understand exactly how interest-only mortgages work.
