Is it possible for my bank to apply entire EMI mortgage payment to Interest only for certain months?

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My bank applied 3 months of payments to only interest and nothing went to principle. Is it because of incorrect calculation by bank?

2007-11-18 13:41:23 · 2 answers · asked by Ram 2 in Business & Finance ➔ Credit

only if you agreed for a intrest only mortgage.

http://www.mortgage-calculators.org/programs/programs.html

2007-11-18 13:58:56 · answer #1 · answered by Anonymous · 1⤊ 0⤋

Do you have an interest only mortgage for a certain period of time? What is your P&I payment?

2007-11-19 00:46:15 · answer #2 · answered by !!! 7 · 0⤊ 0⤋