INTEREST ONLY
An interest-only mortgage is one of the most competitive real estate financial products offered by Real Estate Funding Solutions, where borrowers are only required to pay the interest on the loan. The most experienced real estate investors typically choose this specific mortgage product mainly for its flexibility as there are NO prepayment penalties, which gives borrowers the advantage of exiting the loan at any time, avoiding potential fees from the lender if they choose to pay off the debt earlier than anticipated.
Get approvED now
Requirements:
- 620+ Fico Score
- NO Income or Tax Verification
- 20% down payment
- Minimal documentation
- NO experience required
FAQ's
An interest-only mortgage is a type of home loan where the borrower is only required to pay the interest portion of the loan for a specific period, typically ranging from 5 to 10 years.
The benefits of an interest-only mortgage include lower monthly payments during the initial period, which can free up cash flow for other expenses. It can be attractive for borrowers who expect their income to increase in the future or who plan to sell the property before the principal repayment period begins.
Interest-only mortgages may be more suitable for certain borrowers, such as real estate investors, borrowers with irregular income, or those who plan to sell or refinance the property before the principal repayment period starts. However, it’s important to carefully consider the potential risks and future financial obligations associated with interest-only mortgages.
Refinancing or modifying an interest-only mortgage is possible but will depend on various factors such as the lender’s policies, current market conditions, and the borrower’s financial situation. It’s advisable to consult with lenders or mortgage professionals to explore the available options and determine the feasibility of refinancing or modifying the loan.
Get approvED now
Requirements:
- 620+ Fico Score
- NO Income or Tax Verification
- 20% down payment
- Minimal documentation
- NO experience required
FAQ's
An interest-only mortgage is a type of home loan where the borrower is only required to pay the interest portion of the loan for a specific period, typically ranging from 5 to 10 years.
The benefits of an interest-only mortgage include lower monthly payments during the initial period, which can free up cash flow for other expenses. It can be attractive for borrowers who expect their income to increase in the future or who plan to sell the property before the principal repayment period begins.
Interest-only mortgages may be more suitable for certain borrowers, such as real estate investors, borrowers with irregular income, or those who plan to sell or refinance the property before the principal repayment period starts. However, it’s important to carefully consider the potential risks and future financial obligations associated with interest-only mortgages.
Refinancing or modifying an interest-only mortgage is possible but will depend on various factors such as the lender’s policies, current market conditions, and the borrower’s financial situation. It’s advisable to consult with lenders or mortgage professionals to explore the available options and determine the feasibility of refinancing or modifying the loan.