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Interest Only Mortgage Programs
Please note that the mortgage rates listed in the survey below are not for interest only loans. Simply use the information to reach out directly to the various lenders and brokers to inquire about their interest only loan products.
Interest
only loans allow you to keep your monthly payments
low by only requiring the repayment of interest over
a predetermined period of time. During this initial
period, finances that would go towards paying down
the principal on your loan are freed up to be put
to use elsewhere. Many people choose these products
for paying off debts with higher interest rates, reallocating
money to alternative investment vehicles or simply
to allow the purchase of a higher priced home. These
types of loans are also very popular in areas where
real estate prices are on the rise and homeowners
are gaining equity without having to pay down principal.
There are a wide range of interest only home loan
products to choose from. These products offer many
benefits and are subject to a varying degree of risk.
Certain states do not allow interest only loans so
be sure to check with a mortgage professional to see
if an interest only mortgage is an option in your
area.
You can discuss your interest only loan alternatives
by calling the various lenders and broker listed on
forthebestrate.com.
Possible Interest Only Home Loan Benefits:
- Lower monthly payments during the interest only
window.
- Increased financial flexibility.
- Ability to purchase more expensive home.
Fixed Rate Interest Only Loan Products & Interest Only Adjustable Rate Mortgages
Interest only mortgage products have become very
popular since they were introduced to the public.
Borrowers may be able to find 3/1
and 5/1
interest only arms and the valuable security afforded
by a a 30
year fixed rate interest only home loan. Every
loan program has a degree of risk and interest only
loans can be more risky traditional fixed rate loans.
You should fully consider the risks and rewards of
the programs before making a decision.
Interest Only Loan Options:
30
year mortgage interest only
3
year interest only mortgage loan
5
year interest only mortgage loan
10
year and 7 year interest only mortgages
