1When deciding whether an adjustable-rate mortgage is right for your situation, you should consider the potential risk of rising rates and payments, and such factors as how long you plan to own your home.
2“Interest-only” mortgages allow you to pay only the interest on the money you borrow for a certain number of years. If you only pay the amount of interest that’s due, once the interest-only period ends, you will still owe the original amount you borrowed and your monthly payment will increase—even if interest rates stay the same—because you must pay back the principal as well as interest. You should ask what the payments on your loan will be after the end of the interest-only period. If you are considering an adjustable-rate mortgage, ask what your payments can be if interest rates increase.
3Neither Merrill Lynch nor its Financial Advisors provide tax advice. Please consult your tax advisor regarding the deductibility of mortgage interest.
4Not all terms are available with all loan sizes.
5Loan amounts over $3 million may be available on a case-by-case basis to qualified applicants.
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