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Originally Posted by Dominicwasalreadytaken
This is exactly what I'm looking for, especially the only interest mortgages. If I'm only buying a house so that I can flip it in a year, why do I care how much principal gets taken off? The difference in interest is pretty much negligible, and this makes it a lot easier for me to net a positive cash flow through that year.
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I agree, we use an interest only LoC on our primary residence as well for this reason; I might want to get money out to invest rather than simply pay it down. With interest only I have the option. Pay interest only and use that money elsewhere that will grow faster than I can pay down my mortgage, or pay more than interest only if I want to make it more like a traditional PI payment.