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...helping to make your mortgage and home loan buying experience a better one.
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Interest only mortgages.
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Interest only mortgages are making a big comeback in the
mortgage lending business. They give borrowers the option of paying only the interest on their mortgage loan, instead of the more traditional "principal and interest" monthly payment. It's not uncommon that an interest-only payment may be $200-$250 or more lower. These types of mortgages are great home buying aids to those buyers who may be buying their first home, and are looking forward to a time in the near future when they'll be earning more income, and a traditional principal and interest payment will be easier to afford. |
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They're also attractive to buyers who may be looking at
purchasing a home they know they won't be owning or living in for a very long time. |
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The availability of these mortgages and how they're obtained, in
terms of their qualifying requirements, vary from lender to mortgage lender. On most, the interest-only option is available for the first two to five years of the loan, and sometimes as high as 10-15 years. Thereafter, it's not available and the borrower will be required to make a mortgage payment large enough to cover both principal and interest. |
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A mortgage borrower needs to have reasonably good credit,
or at least fair credit, to qualify for an interest-only mortgage. Mortgage Match can assist you in obtaining an interest-only mortgage loan with a midscore FICO as low as 560. In fact, if the borrower's income is high enough and can be verified, a good interest-only mortgage payment can be combined with a zero down loan for a great entry level loan for a first-time home buyer. To get pre-approved for an interest-only and/or a zero down mortgage loan, click here. |
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The Mortgage Match "Buy Your Home" Express Plan.
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1. Get Preapproved.
2. Receive your Preapproval letter.
3. Find a home to buy.
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4. Fax us your purchase agreement.
5. Sign your closing docs.
6. Take title to your new property.
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Click here for a fast and free preapproval.
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In all
50 states.
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For more information on zero down, interest only mortgages,
please also see...
Interest only mortgages simplified.
Interest only mortgages... they're a good thing.
The benefits of getting preapproved for an interest only loan.
It's not that hard to get an interest only mortgage.
Why it's hard to quickly quote a rate on an interest only loan.
Zero down, interest only mortgages even with bad credit.
FAQs on interest only mortgages.
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Loans in all 50 states.
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If the answer you're looking for isn't here,
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