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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. :: Satisfied Clients :: Contact Me :: Home :: Pre-Sell Package E-mailed :: Current Interest Rates :: SC Housing Authority Programs :: ARM Loans :: Credit Grade Calculator :: Monthly Payment Calculator :: Mortgage Payment Calculator :: Credit Report :: Imperfect Credit? :: Financial Calculators :: Rent Vs. Buy Calculator :: Interest Only :: Payment Option Arm Calculator :: Debt Consolidation Calculator :: Interest Only Payment Option Calculator :: Free Buyer Reports :: My Listings :: Dream Homes :: Service Providers :: Utility Companies :: Buyer's Resources :: Teacher Mortgage Program :: Seller's Resources :: Pre-Sell Package :: Market Analysis :: Free Seller Reports :: 60 Day Listing Guarantee :: Home Equity Loan :: Refinance Calculator :: Pre-Qualify :: Loan Programs :: Glossary :: Library :: Mapquest :: Yahoo Maps :: My Newsletter :: Subscribe to My Newsletter :: Unsubscribe Newsletter :: Schools :: Weather :: About Roy :: Pro Team :: Allen University :: Benedict College :: Churches :: City of Columbia :: Columbia Better Business Bureau :: Columbia Meropolitan Airport :: Columbia City Page :: Columbia College :: Columbia Golf Courses :: Columbia International University :: Columbia Museum of Art :: Columbia SC Hotels/Motels Guide :: Fort Jackson :: Greater Columbia Chamber of Commerce :: Lake Murray Country :: Riverbanks Zoo :: SC Parks and Tourism :: SC State Parks :: Small Business Administration :: South Carolina State Museum :: State Newspaper :: Town of Chapin, SC :: Town of Irmo. SC :: University of South Carolina :: USC School of Medicine :: ___________________ ::
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