Interest
Only Loans allow homeowners the ability to reduce their typical
monthly mortgage payments by roughly 50%. This plan is based
on an adjustable rate mortgage tied to the libor index. Homeowners
select a 30 year loan and only the interest is paid for the
first 5 years then principle and interest for the remaining
25 years. If you live in an area where homes are appreciating
and would prefer to make a much lower monthly payment then
this mortgage plan may be just what you're looking for. This
loan also works well for those homeowners who want to pay
down their mortgage quick. Loans are available from 100k up
to 2 Million.
All
programs have "Interest-Only" payment options
and can be fixed for up to 10 years!
Control
your cash flow with interest only loans. Available in both
adjustable and fixed rate forms these loans allow you to
have greater purchasing power, reduced monthly obligations
and many more features not available with the traditional
30 year fixed principal and interest loan. Interest Only
Loans can be tied to one many indexes including the popular
Libor Index. Most loans do not include negative amortization*
and can be fixed for terms as long as 30 years. Today's
interest rates are at the lowest levels in years. Before
rates go higher you may want to consider the benefits of
refinancing or securing an interest only loan or interest
only home equity line at today's low interest rates.