Mortgage insurance: Fixed rate mortgage, FHA Loan, PMI and types of mortgage loan

Interest Only Mortgage:

An interest only home mortgage highlights no payment of principal made at the beginning. The monthly payments consist of mortgage interest only. Due to the low monthly mortgage payments, you qualify for a bigger residential loan. An interest only home mortgage allows you to buy more homes while keeping your monthly mortgage payments low.

Benefits:

Lower mortgage payments: The lower monthly mortgage payments let you purchase a home whereas a fixed mortgage loan would not.
Free up cash to invest the money elsewhere: Instead of using the cash to pay down your mortgage principal, you can invest in other financial options such as stocks, mutual funds, etc. to earn money.

Drawbacks:

Income Risks: There are no assurances that your income will rise rapid enough to satisfy the higher monthly mortgage payments.
Property Risks: Instead of the property rising fast enough to pay off your interest only home mortgage, it could stay at current levels or even drop. As a result, you might require another loan in order to settle the interest only mortgage loans.
No guarantee of getting superior returns in other investments: If you used the money to generate returns in investments such as equities, mutual funds, and stocks, there is no guarantee you will make money.