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Resources > Glossary > Interest Only Mortgage Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms. 0-9 A B C D E F G H [I] J K L M N O P Q R S T U V W X Y Z Interest Only MortgageA type of mortgage where the borrower's payments are purely interest for a specified period of time which is usualy five to ten years. Some borrowers use this type of mortgage so they can get a more expensive house. Others use this so they can have more available cash to invest in the stock market. A balloon mortgage is a type of Interest Only Mortgage. Thesaurus / Related TermsBalloon Mortgage Mortgage Interest Only Loan Option
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