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 Listings :: Our Listings :: Search Properties Here!!! :: Search by MLS Number Here :: Receive Email Updates :: Login to Your Property Organizer :: Buyer's Resources :: First-Time Home Buyers :: Dream House Finder :: Free Buyer Reports :: Seller's Resources :: What is the Value of My Home? :: Free Seller Reports :: SOLD :: Calculators :: Mortgage Center :: Rent Vs. Buy Calculator :: Marketplace :: Library :: Glossary :: Schools :: Weather :: Newsletter :: Valuable Resources :: More Relocation Services :: Cultural Corner :: Our Pledge :: About Kim Hà :: About Our Team :: Client Testimonials :: Submit Testimonial :: Contact Us :: Guest Book :: Photo Gallery ::

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

RE/MAX Elite

109 Westpark DR Suite 100

Brentwood, TN 37027

Office Phone: (615) 661-4400 x4252

Direct Line : (615) 850-4252

Toll Free: 800-582-3204