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Interest OnlyInterest 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.
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. :: Bank Owned :: Divorce Sales :: Estate Sales :: Foreclosures :: HUD Owned :: Quick Possession :: Relocation Homes :: Short Sale :: Foreclosures :: Short Sales :: REO :: Fix Up Properties :: Denver HUD Homes for Sale :: HUD Homes for Sale :: How to buy a HUD Home :: Officer Next Door Program :: Teacher Next Door Program :: Firefighter/EMT Next Door Program :: HUD Information for Colorado :: HUD Home Page :: Denver VA Owned Homes :: VA REO Properties :: MLS Search :: Professional Referrals :: Real Estate Blog :: Pre-Qualify :: Englewood Mortgage :: Money Street Mortgage :: Calculators :: Mortgage Rates :: Credit Report :: Marketplace :: Library :: Glossary :: Schools :: Weather :: Newsletter :: Buyer's Resources :: Dream House Finder :: Free Buyer Reports :: Seller's Resources :: Market Analysis :: Free Seller Reports :: Support our Team's Fundraising Goals :: Staff Directory :: Contact :: Personal Info :: Testimonials :: Reciprocal Link Affiliates :: Sitemap ::
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