What is a Flex Payment Mortgage?
Understanding your options when shopping for a mortgage is crucial to making the best financial decisions. One option that is not well known is the Flex Payment Mortgage. But what exactly is it, and how can it benefit you? Understanding the Basics First and foremost, a Flex Payment Mortgage is a type of home loan that offers borrowers the flexibility to adjust their monthly payment amounts. Unlike traditional mortgages with fixed monthly payments, this mortgage type allows you to choose from several payment options each month. These options typically include a minimum payment, an interest-only payment, a fully amortizing payment,…