Interest Only Loans

Save you hundreds of dollars each month

Interest Only mortgage loan types have become very popular alternatives to the traditional fixed and adjustable rate loans.

Dramatically gaining popularity, these home loans can allow a borrower to make interest only payments during a defined period of time (example: 5 years). By paying interest only, you can almost cut your mortgage payment in half.

Increased purchasing power

These types of programs can offer borrowers greater purchasing power because of a lower payment, increased monthly cash flow, the opportunity to pay interest only or more than interest only, among a number of other benefits.

An example of this would be one of the most common programs, which is a 5 year interest only option loan where the borrower has a fixed payment for five years and has an option each month to pay the interest portion of the payment or a principal and interest payment (30 year or 15 year) every month for the first 5 years.

Increased borrowing power, greater savings

Using an interest only loan this could save you hundreds of dollars each month, allow you to borrow more than you thought you could afford, or even allow a person to buy another property.

Great for short term loans

These loans are not for everybody, and should only be used when it fits your financial needs. If you are intending to pay off your home and stay in it for the long-term, this type of loan is most likely not for you.

However, if you are planning to move out or sell your home within the first five years, this type of product may provide an extremely attractive benefit.

Apply in minutes

Simply fill out our easy one-page application to get your preferences matched up with the brokers and/or lenders that have the types of loans you need.

Then when they contact you by phone and/or email you can have them put together quotes including an interest only or 5yr-Option loan payment structure.

Once you review what you actually qualify for, you can decide which course of action to take.