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A New Interest-Only Mortgage from Meridian
—The Mortgage Report: Oct. 15— Canada has had interest-only home financing for decades, the most popular type being the HELOC. But it’s hard to find a mainstream lender selling an interest-only mortgage. That’s partly what makes Meridian Credit Union’s new Hybrid mortgage interesting. The Meridian Hybrid is a traditional mortgage and interest-only (I/O) loan in one. It lets someone with...