Duplicate - Closed
Interest-only loans
Some loans are of the form: interest only for some period (say 5 years) and then convert to a fixed or variable interest after that. So the balance stays fixed for some years, and then the payments go up.
Some loans are of the form: interest only for some period (say 5 years) and then convert to a fixed or variable interest after that. So the balance stays fixed for some years, and then the payments go up.
This is of keen interest to me. I have 1 of these loans and am planning to take-on 2 more with my wife in the coming year.
All are executed by collateralizing investment accounts so I put $0 down, so tying the loan to the collateral account and margin call threshold (e.g., 35% of outstanding principal) would be helpful.
Currently, I have to track separately in an Excel + Python combo.
This is really part of https://changemap.co/projectifi/projectifi/task/6254-housing-allow-modeling-of/ – if you’re subscribed here, please go subscribe to the linked item instead.