Interest Only Power Option Mortgage Loans

Interest Only Loans are the most popular loans available right now. With the housing prices continuing to climb, even a low 30 year fixed rate can make the monthly mortgage payment still seem too expensive. Interest Only loans used to be for people with good or excellent credit, but now they are available even if your credit is not very good, or if you just need to rearrange your budget while having the lowest payment possible each month.

Interest Only Loans were designed for borrowers who don’t have big down payments or a lot of equity and still need lower monthly mortgage payment options in order to afford their first or their next home. These are also designed for homeowners who don’t plan to be in their homes for more than 5-10 years because very little of the principal actually gets paid off during the first years of a 30 year fixed mortgage. Our Interest Only Home Loans give you the option each month to make the Interest Only Payment or a Full Principal and Interest Payment. Your home loan balance will never go up!

Many people are just looking to get into their next home as cheaply as they can and our Interest Only Home Loans are designed for just that. These are the perfect loan for people who might not be in their homes very long and are looking for the cheapest payment possible.

Did you know it takes 9.8 years to pay off 10% of your principal if you had a 30 year fixed rate home loan? It takes 21.8 years to pay off 50% of your principal. With these alarming statistics, many homeowners who don’t plan to be in their homes long, or are looking to invest the principal payments elsewhere have turned to Interest Only Loans to meet their long and short term goals.

Since it takes so long to make any significant dent in your principal mortgage balance, many homeowners are choosing to apply money that would have gone to the principal balance to their credit cards or fund their investments. Since home values are continuing to rise, many borrowers are letting time build equity in their homes, rather than struggling to pay down their principal balance and are refinancing mortgages to low fixed rates when they are in a better equity situation.

To find out more about our Interest Only Loans, apply safely online for our Interest Only Loan or call 1-877-674-5626 to speak with a Credit Manager today....