Finance
A Kentucky interest-only mortgage requires the borrower to:
APay only principal for the first 5 years
BPay only interest for a period, after which principal payments begin✓ Correct
CPay both principal and interest at a reduced rate
DMake no payments until the property is sold
Explanation
An interest-only mortgage allows the borrower to pay only interest for an initial period (typically 5-10 years). After this period, the loan converts to full amortization including principal payments.
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