nabailey44 asked:


I think they are great when you have a commission based job/career. We have a fixed interest only loan, so if things are tight we can pay bare minimum and when they are more relaxed we can more than make up for that loss of principal by paying more…….And every time you pay principal your actual (interest) payment goes down…..So over time, adding lump sums will reduce your payment versus paying a fixed mortgage for forever/or until its paid off.

William