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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.

The Lending Company - 6910 East Chauncey lane # 205 - Scottsdale, AZ 85254
Office Phone: (480) 390-2123 Fax: 480-323-2909
E mail: MBongiovanni@thelendingco.com &: FHALoanAZ@Yahoo.com

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BK-0909441 Bank Number can be verified at the "Arizona Department of Financial Insitutions" web site: www.AZDFI.GOV

Manny offers a quote for a refinance, home mortgage or consultation. We specialize in Arizona FHA loans and offer competitive rates for the following cities:

Phoenix, Scottsdale, Tucson, Mesa, Glendale, Chandler, Gilbert, Tempe, Peoria, Surprise, Yuma, Ahwatukee, Buckeye, Avondale, Sun City, Queen Creek, Maricopa, Casa Grande, Apache Junction, Cave Creek, Care Free, Yuma, Prescott, Prescott Valley, Cottonwood, Sedona, Flagstaff, Winslow, Showlow, Holbrook, Kigman, lake Havasu, Parker, Bullhead City and More!

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