Interest Only

RE/MAX Citylights Estates

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Interest Only

Interest 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.

Loan Program	Advantages	Disadvantages
Interest Only Programs	Several payment options Lower monthly payments Qualify for a higher loan amount Qualify at the interest only payment Option to pay the full principal and interest payment Interest only payments for up to ten years	Higher rates Principal loan balance will not decrease during the interest only payment period Payment will be higher for the remaining term

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.

Citylights Financial - 29134 Roadside Drive - Agoura Hills, CA 91301
Office Phone: (800) 530-2489 Fax: (888) 450-7907

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RE/MAX Citylights Estates is an International Network of Independently owned and operated offices offering a variety of real estate and relocations services. RE/MAX Citylights Estates is at 29134 Roadside Dr.suite 107 Agoura Hills Ca. 91301 Citylights Financial Express Inc. and Citylights Commerical Lending Group Inc.is at 29134 Roadside Dr.suite106 Agoura Hills Ca. 91301 Re/MAX Citylights Estates is Lic. by the Ca. DRE #01355798 and Citylights Financial Express Inc. is also Lic.by Department of Corporations #603B921

CAMB - California Association of Mortgage Brokers