Pursuits
Interest-Only Mortgages Coming Back, But With Safety in Mind
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The second-largest provider of U.S. mortgages through brokers is bringing back a debt type that’s almost disappeared since the financial crisis: Interest-only loans.
United Wholesale Mortgage plans next month to expand access to the mortgages to borrowers beyond the wealthiest Americans who use so-called jumbo loans. Interest-only mortgages carry higher risks because they can leave homeowners facing a jump in their bills down the road.