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Interest OnlyInterest only loan programs provide the same features as fixed and variable rate programs, and they additionally offer a lower payment option. With an interest only loan payment option, you pay only the interest portion of the payment but no principal.
An interest only loan can be more expensive compared to a fully amortized loan. Many lenders add a fee of one-quarter point for the interest only option. Interest only payment options allow you to qualify at the starting interest only payment. This gives you more buying power and a lower monthly payment compared to an amortized loan. You pay interest based on your principal balance. On an interest only loan, your principal balance does not decrease, therefore, you pay more interest with this option. :: About You :: Best Case Bankruptcy :: Get Out of Debt :: Pay Yourself First :: Payroll & Benefit Plans :: Sale Your Furniture :: Featured Properties :: Jack Elmann Real Estate :: Search the MLS :: Rentals :: Buyer's Resources :: Find My Dream Home! :: Help Me Relocate! :: Investing in Real Estate :: Free Buyer Reports :: Free Newsletters :: Seller's Resources :: What Is My Home Worth? :: List My Property :: Free Seller Reports :: Free Newsletters :: Trash Removal :: FSBO's Resources :: Free Advertising :: Free Reports :: Help Me Relocate :: Guest Book :: Calculators :: Loan Programs :: Loan Pre-Qualification :: Monthly Mortgage :: Your Mortgage :: Library :: Glossary :: International News :: Neighborhood Profiles :: News and Information :: Newsletter :: NY Daily News :: Schools :: School Statistics :: USA Today :: Wall Street Journal :: Weather :: Bank Rates :: Contractors :: Home & Garden :: Home Inspection :: Market Place :: Real Estate Blog :: Real Estate Journal :: Real Estate Update :: Stock Review :: Tax Advice - IRS :: Tax Advice - State :: Website Traffic :: CNN Money :: Education-529 Plan :: Investment News :: IRA - T Rowe Price :: IRA - Vanguard :: Starting A Business :: Treasury & Bonds :: About Us :: Company Info :: Contact :: Testimonials :: Submit Testimonial :: Online Survey :: Privacy Policy ::
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