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

An interest-only home loan can be a good option for someone who would like more flexibility in their payments or who is planning on owning their 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.