An interest-only home loan offers you the option of paying only the interest due, or the interest plus a predetermined amount of principal on a monthly basis. These loans are usually interest-only for a fixed number of years. After the interest-only period, your payments are adjusted to include both interest and principal.

An interest-only home loan can be a good option for someone who needs more flexibility in payments or who is planning on owning a home for less than ten years. With an interest-only mortgage, you can control your monthly mortgage payments and cash flow based on your family’s needs.

Our interest-only home loan options can be structured as either a fixed-rate or an adjustable rate mortgage. For more information on interest-only mortgages or to see if one might be the right fit for you, contact a Financial Specialist today.