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.
| 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
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- Higher rates
- Principal loan balance will not decrease during the interest only payment period
- Payment will be higher for the remaining term
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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.
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Important Disclosures
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Rebates are offered on properties with a sales price over $100,000 and are subject to the approval of Lenders and the Principals we represent. Rebates don't apply if we preview properties. We have a free video service for out of town buyers this service is especially helpful to investors call (210) 782-8025 for details.
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All transactions are subject to a transaction fee of $285 for residential real estate. For details on transaction fees for lots and commercial real estate please call: 210-782-8025
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Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords: Click here
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