My outlet for mortgage loan
Non Amortizing Mortgage Loans * Monthly payments do not cover any of the principal, and may also cover less than the accrued interest. * Payments do not cover the total balance of the mortgage loan, or cover the balance but do not pay off the loan gradually. Once the grace period ends, the entire loan may come due, or the payment schedule may accelerate abruptly. * May be either fixed rate or adjustable rate. Just as with an amortizing loan, the size of the monthly payments either varies or stays the same.