Interest Only Loans
Interest only loan programs allow borrowers to have flexibilities
that traditional loans don't. Your house will appreciate or depreciate
regardless of how much principal is paid each month; therefore,
paying zero principal and diversifying into other assets or savings
will allow borrowers to have real estate and financial assets working
together to create a more diversified plan in building net worth
or an estate. And you are paying the lowest possible interest rate
on your mortgage loan. Interest only loans recast themselves upon
the initial interest rate change; thereby, allowing a borrower to
manage or customize his/her cashflow. This is beneficial for borrowers
who are commissioned, bonus, self-employed, or who have a house
to sell. They may take a higher mortgage balance today and reduce
it in the future to a more comfortable level and reduce their monthly
Why Should You Choose An Interest-Only Loan?
- Mortgage payment flexibility to better manage your monthly cash
flow without deferring interest.
- Purchase a larger house without increasing your monthly mortgage
- A guaranteed interest-only payment produces monthly cash flow
savings to invest or reduce high cost credit obligations.
- More flexibility in managing the mortgage interest payment to
maximize your tax advantages.
- Make an additional principal payment and see it reflected in
your next monthly payment.
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