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"We give you credit for
your good credit!"®
Deep Discounted Rates.Exceptional Service.Unparalleled Value. |
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| Interest Only Mortgage Loan
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Interest Only Mortgage
Programs with AAXA Discount Mortgage
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| 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. You can discuss your
interest only loan alternatives with your AAXA Discount Mortgage loan advisor
by calling 877-RATE-LOW (877-728-3569). You can also take the first step and
complete our
online mortgage application in just a few minutes. |
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| Interest Only Home
Loan Benefits:
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| Lower
monthly payments.
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| Increased
financial flexibility.
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| Ability
to purchase more expensive home.
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How Much Less Would Your
Payment be with an Interest Only Loan Verses that of a Fully Amortizing Home
Loan Product?
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| Let’s compare the monthly payments for two sample
mortgage products: |
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| Program: 30 Year Fixed Rate Mortgage – Principal
and Interest |
| Loan Size: $200,000 |
| Rate: 6.00% |
| Monthly Payment = $1,199.00 |
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| Program: 30 Year Fixed Rate Interest Only Mortgage
Loan |
| Loan Size: $200,000 |
| Interest Only Mortgage Rate: 6.375% |
| Monthly Payment = $1,062.35 |
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| Monthly Payment Savings by Considering an Interest
Only Home Loan = $136.65 |
| Payment Savings Over Five Year Period = $8,199.00 |
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| Remember that just because you select an interest
only mortgage loan program, it does not mean that you cannot make payments
toward your principal each month. It just grants you the flexibility to decide
if you want to pay the additional expense. If you are looking for one of the
most flexible mortgage programs on the market, be sure to check out our
investors’
option ARM mortgage programs. Option ARMs offer up to four different
payment choices each month including an interest only mortgage payment
selection. We also work with a lender that offers a
103-100% interest only loan program. When is comes to creative
financing products, AAXA has you covered. |
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Fixed Rate Interest Only
Loan Products & Interest Only Adjustable Rate Mortgages
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| Interest only mortgage products have become
increasingly more popular since they were introduced to the public. Each year
wholesale lenders are unveiling new programs that offer a wide range of
benefits for consumers. For example, you now have access to the ultra low rates
that 3/1 and 5/1 interest only arms offer and the valuable security of a 30
year fixed rate interest only home loan. Every loan program has a degree of
risk. Obviously interest only home loans are no different and you should fully
consider the risks and rewards of the programs before making a decision. No
matter what type of program you are considering, AAXA has the solution to help
you meet your goals. Please call 877-RATE-LOW (877-728-3569) today to discuss
your financing needs, or apply using our
online mortgage application. You can view some of our interest only
mortgage rates in our
Mortgage Quote Section. Keep in mind that we only post a small
selection of rates and programs on our web site. Please give us a call if you
do not see the program that you are searching for. We look forward to helping
you with your next home loan. |
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Other Interest Only Loan Options:
Option
ARM Mortgage
100% Interest only loans
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
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