Loan Programs

Imperfect Credit Programs | Conforming and Non-Conforming | Fixed Rate | Balloon | Adjustable Rate | Interest Only | FHA

An interest-only mortgage is one in which the minimum monthly payments only cover the accrued interest. The unpaid balance remains constant. Interest-only payment options allow for a period of interest-only payments (usually three to ten years), after which time one begins making principal and interest payments for the remaining term of the loan, which results in a substantially larger monthly payment. Interest-only payments are typically available for all conforming and non-conforming loan programs.