Finance
In Maine, which type of mortgage loan allows the borrower to pay only interest for an initial period before full amortization begins?
AA fully amortized fixed-rate mortgage
BAn interest-only mortgage✓ Correct
CA negative amortization loan
DA balloon mortgage
Explanation
An interest-only mortgage requires the borrower to pay only interest for an initial period (typically 5–10 years), after which payments increase to amortize both principal and interest over the remaining term.
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