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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. :: Interior Tour :: Realtors Wanted :: My Account :: Daily Property Alerts :: Featured Properties :: Search Rockland County :: The Hamlets :: Nanuet House Listings :: Hamlets/Nanuet Condos :: Buyer's Resources :: Dream House Finder :: Free Buyer Reports :: Marketing :: Market Analysis :: Seller's Resources :: Free Seller Reports :: Track Record Hamlets :: Calculators :: Pre-Qualify :: Loan Programs :: Shop Lenders :: Condos and Townhomes of Rockland County :: Nanuet News :: Market Watch :: Our Affiliates :: Link Library :: Newsletter :: Glossary :: Schools :: Library :: Us :: Angela Fish Chan :: Pard H. Chan :: Joe Castiglione :: Linu Abraham :: Bindu Abraham :: Joseph Delli Pizzi :: Janet Lee :: Testimonials :: Contact :: 9wyndham :: graniksway :: Nicole Way :: Meadow Lane :: 166middletownroad ::
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