How does an interest only mortgage work

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Nevertheless, lenders look for someone who can easily afford higher monthly payments after the interest-only period, has a stable income loan product got in the Financial Crisis.

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What is an Interest Only Mortgage? How Does an Interest Only Mortgage Work?
With interest-only mortgages, you only pay off the interest on the amount you borrow. You use savings, investments or other assets you have (known as 'repayment. To put it simply, an interest-only mortgage is when you only pay interest the first several years of the loan � making your monthly payments lower when you. An interest-only mortgage is a loan with scheduled payments that require you to pay only the interest for a specified amount of time.