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Interest
Only Mortgage - Purchase or Refinance
An
Interest Only Mortgage is as the name implies a mortgage
loan where the borrower makes interest only payments for a fixed
period of time with no part of
the payment being applied to the principal amount of the mortgage
loan.
After the end of the term, with an Interest Only Mortgage,
you either refinance, pay the balance in a lump sum, or start
paying off the principal through increased monthly payments.
An Interest only Mortgage might be a good fit for:
* Someone whose income is mostly in the form of
commissions or bonuses
* Someone who expects to earn a lot more in the future
* Someone who wants to invest the savings into other
investments
Business owners or self employed individuals with unpredictable
incomes might benefit from Interest Only Mortgages
too, because they need to maximize their cash flows as much as
possible. Whatever your want to purchase a home or refinance
your existing mortgage our loan specialists will design a
Interest Only Mortgage program that is specifically designed
to meet your financing needs and goals.
Apply online on call our 24 hour loan for your free, no obligation
Interest Only approval.
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