Finance
A West Virginia mortgage that requires interest-only payments for the first 5 years is called:
AA balloon mortgage
BAn interest-only mortgage✓ Correct
CA negative amortization loan
DA straight-term mortgage
Explanation
An interest-only mortgage requires the borrower to pay only interest during an initial period, with no reduction in principal. After the interest-only period ends, fully amortizing payments begin, which are significantly higher.
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