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February 2024 v1.0RESIDENTIAL CRITERIA Not for customer use. For professional intermediary use only.APPLICANTMinimum Age21Maximum Age80 (at end of term) . Maximum age for Interest Only is 70 (at end

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What is product name interest only?

Product name interest only refers to a type of financial product or loan where the borrower is required to pay only the interest for a certain period, without reducing the principal balance.

Who is required to file product name interest only?

Individuals or entities utilizing or benefiting from the product name interest only for their financial transactions or obligations are required to file.

How to fill out product name interest only?

To fill out product name interest only, provide accurate information regarding the borrower's details, the loan amount, interest rate, terms of repayment, and any relevant financial disclosures.

What is the purpose of product name interest only?

The purpose of product name interest only is to allow borrowers to manage cash flow effectively by making lower initial payments, focusing on interest without reducing the principal during the interest-only period.

What information must be reported on product name interest only?

Information that must be reported includes borrower identification, loan details, interest rates, payment schedule, and any associated fees or terms.

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