An interest only loan makes home ownership reachable.

Found your Dream Home but the monthly payments are beyond your monthly budget? Not a problem. You may want to consider an interest only loan where you pay only the interest on the loan for a period of time. That way you can finance your new home with lower monthly payments.

BENEFITS OF AN INTEREST-ONLY LOAN

• Increasing Your Purchasing Power
  Found that Dream Home that you just can’t live without? When a monthly mortgage payment is emptying your pockets, an Interest-Only loan allows you to increase your purchasing power by allowing you to finance a home that is more expensive than a traditional mortgage loan would permit. This option may be helpful for buyers who have truly found the dream home they intend to keep when they would otherwise sell and upgrade after a few years.
• Need Extra Cash and Lower Payments?
  Another benefit to Interest Only loans is having a lower monthly payment than a traditional loan. Lower monthly payments mean more money each month which in turn allows you the option to save, invest, or pay off debt. Many people have found out the truth about paying extra money toward their mortgage and realize that the same money in a safe, liquid, investment account will allow them to become financially free sooner and are taking advantage of the interest only mortgage to help them achieve these goals.
• Need Flexibility on Interest Rates?
  Interest-Only loans can be adjustable or fixed rate mortgages. It's your choice. Your monthly payments are calculated, just like other mortgage loans, by using the applicable interest rate.
  However, the difference is that the adjustable rate interest on an Interest Only loan is traditionally lower than the fixed rate on a on a more traditional home loan program.
• Is an Interest-Only Loan Right for You?
  An Interest-Only Loan does have all of the benefits mentioned above, however an Interest-Only Loan is not for everyone. If you have questions about whether or not an Interest-Only loan is right for you, talk to a Julie Martin and her team today to find out more information.

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