An interest-only mortgage can be a good fit, if:

• Your income is mostly in the form of infrequent commissions or bonuses
• You expect to earn a lot more in a few years
• You will invest the savings on the difference between an interest-only mortgage and an amortizing mortgage,

With an interest-only mortgage loan, you pay only the interest on the mortgage in monthly payments for a fixed term. After the end of that term, usually five to seven years, you refinance, pay the balance in a lump sum, or start paying off the principal.