Features of an Interest-Only Mortgage
Our interest-only mortgages are a popular mortgage option among both first-time home buyers taking out their first home loans and homebuyers whose income fluctuates from month to month. An interest-only mortgage is highly unique among mortgage options in that it:
- Offers interest-only payment terms for 5-7 years
- Allows for flexible monthly payments during the initial interest-only term
- Gives borrowers the opportunity to make principal payments when they choose to
- Will result in a higher monthly payment after the interest-only term has passed
Call 1.888.546.2634 to speak to a knowledgeable Mortgage Consultant who can provide you with the interest-only mortgage loan that is just right for you.