Home Loans
Mortgage Loans: What Are Negative AM Loans
(presented by www.refinance-refinance.net - mortgage lenders)
By Louie Latour
You might see mortgage lenders advertizing 1% mortgages. Mortgage lenders promise ultra-low monthly payments and easy qualification; if you are considering using one of these mortgages to finance your home you need to understand the risk before jumping in. Here is what you need to know about 1% mortgage offers.
There are mortgage sites on the web claiming that negative amortization can save you thousands of dollars per month on your mortgage payments. These sites claim to have mortgage interest rates as low as .5 -1.25%. Sound too good to be true? It is, and what these sites are not telling you is that the advertised .5-1.25% interest rate is not the actual interest rate, simply the rate that your monthly payment is based on for a period of time.
The difference between this interest rate and your actual interest rate is the amount the lender adds to your principal loan balance each month. That
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