Questions about a 2 year mortgage payment?

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Are the banks favorable towards giving out 2 year mortgage loans for example if I was buying a house that was 50k and paying 2500 a month?

Do the banks hike your interest rates if you are taking a 2 year mortgage loan?

1 Comment
  1. Reply
    May 2, 2011 at 6:44 am

    I would say no, only because they want to earn some interest on that money! If you can afford to pay off a 50k house in 2 years most banks will tell you to just save your money for 2 years and buy cash.

    My answer would be no, there are no mortgage products that would lend itself to this sort of scenario.

    Perhaps a personal loan would be more appropriate if you have the credit and assets to back it up?

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