Home
MLS Search
1-2% Rebate
List for 3%
Home Evaluation
Texas
Pre-Qualification
Foreclosures
Contact

Listings

Buyers

Sellers

Mortgage Info

Resources

About

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.


:: Featured Properties :: Foreclosures :: ----MLS Search ---- :: Email Updates :: Builders :: 1-2% Rebate Program :: House Hunting Service :: Foreclosures :: Investors :: Buyer's Resources :: Free Buyer Reports :: Homebuyer Education :: List for 3% :: Marketing Proposal :: Seller's Resources :: Free Seller Reports :: AMCAP Mortgage Bank :: Today's Mortgage Rates :: Credit Grade Calculator :: Refinance Calculator :: Rent Vs. Buy Calculator :: More Calculators :: Loan Programs :: Pre-Qualify :: Debt Consolidation Calculator :: ARM Loans :: Interest Only :: Home Equity Loan :: Credit Report :: Mortgage Rate Video Update :: Tom McKenna :: Real Estate Forms :: Home Team of America Ltd :: Marketplace :: Newsletter :: Schools :: Weather :: Rebates :: AMCAP :: TEXAS :: San Antonio :: Boerne :: New Braunfels :: Guest Book :: Privacy Policy ::

Important Disclosures

  • 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.

 

  • 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

1

  • Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords: Click here

LIMITED TIME OFFER 

Equal Housing Lender Equal Housing Opportunity REALTORŪ

© 2010 Myers Internet All Rights Reserved

Powered by: Myers Internet | Admin Login