Interest Only

Listings

Wright Real Property Management

Buyers

Sellers

Investors

Mortgage Info

Resources

Company Info

Interest Only

Interest 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.

Loan Program	Advantages	Disadvantages
Interest Only Programs	Several payment options Lower monthly payments Qualify for a higher loan amount Qualify at the interest only payment Option to pay the full principal and interest payment Interest only payments for up to ten years	Higher rates Principal loan balance will not decrease during the interest only payment period Payment will be higher for the remaining term

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.

:: Residential/Land Office Listings :: Commercial Office Listings :: Submit An Offer :: Recently Sold Office Listings :: HUD Homes :: Management Infomation / Lease Listings :: Dream Home Finder :: Buyer Resources :: Free Buyer Reports :: Market Analysis :: Seller Resources :: Free Seller Reports :: Property Finder :: Investor Resources :: Tax-Deferred Exchanges :: Credit Approval Docs :: Mortgage Rates :: Calculators :: Preferred Services :: Schools :: Free Credit Report :: Property Tax Relief :: Mission Statement :: Staff Directory ::

An Equal Opportunity Company. Equal Housing Opportunity.
All rights reserved.