(Specialty loans) are OK for people with money in the bank who want to use the (monthly savings) for other investments. But they're not prudent for people who don't have a nest egg and can't afford the risk. |
A 30-year fixed loan is really an insurance policy that the rate won't change. |
Interest-only loans are ideal for upscale people who want to live as inexpensively as possible, especially if they think they'll be in the home only two or three years. |