- Do you desire to afford more home now?
- Do you plan to sell your home or refinance soon?
- Do you need to use your mortgage savings for other debt obligations?
If you answered yes to any of the questions above, interest-only mortgages might be the right option for you. Interest only loans allow you the flexibility of investing your money where you wish, not just in your house. During the first 5, 7, or 10 years of your loan, you can either pay interest only or include whatever amount of principal you wish, even a sizable principal prepayment if desired. After the initial fixed period, your loan will require monthly payments of both principal and interest.
The payments will depend on your financial situation and the current market interest rates.
Contact me to discuss your options.