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Interest Only Mortgage Programs
Do you prefer to pay interest only on your mortgage loan? Maybe you need to have a lower housing ratio for qualifying to purchase your new home in Nashville, TN or in any of the other communities where we originate loans? The interest only mortgage program is an outstanding option for cash flow on short term holdings of 5 years or less whether those holding are in Cary, NC or beautiful countryside of Lee's Summit, MO.
Rather than tying up money into a property making payments to principal, you can improve your household cash flow by paying only the interest and banking your equity every month. This is terrific for a Home Buyer planning to reside in a home for three, four or five years, and an outstanding option for a real state investor who is wanting a Investor Loan program that eliminates the worry about the added problems of tying up cash flow in the form of unnecessary principal reduction payments made on an investment property they plan on "flipping" in two or three years. In hot markets like fast appreciating Rankin County, MS, this strategy has paid off handsomely for some shrewd investors over the past few years. Plus, if we didn't mention it, it's great for cash flow statements for both home owners and investors. For great options and fast results, use our Quick Apply application!
Interest Only Programs are typically available with the following mortgage programs:
The interest only program is NOT available with our:
While it's really a personal choice, making a good financial decision can ease the risk of a short term home ownership when planning to relocate or move across the country. If you can manage your money wisely, then you may want to use this loan program as a tool to create more cash without affecting natural equity growth through appreciation that many growing markets such as Athens, Alabama have experienced recently. In the average real estate market, a home will appreciate even if you have not paid down principal. Natural appreciation can create equity that you can bank at closing in some circumstances.
The interest only loan program is really a cash flow program. It really allows you to just pay the interest, with no catches. Want to pay down your principal? You can do that at anytime! The difference with an interest only program is that you now have total control. It's your option with a much, much lower risk.
Not all Interest Only programs are available to all borrowers and qualification is based upon your specific financial information. Need more information? Want a free consultation to see what programs you'll qualify for? Call now to speak with one of our Interest Only Mortgage Loan specialists today or use our Quick Apply form for a super fast response!
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