10 Year Interest Only Loans

With interest rates heading up the 10 Year Interest Only loan may help you get into your dream home with affordable payments.  The interest rate is fixed for 10 years and the payments are caculated on the outstanding balance.  The payment is lower on an interest only loan than it is on a 30 year fixed rate.  There is NO Negative amortization or deferred interest on the 10 Year Interest Only loan.  Call Lynne Dewar at (800) 552-1188 for more information.
 
Posted by Lynne Dewar on 07/23/2007 05:45 PM   Comments (3)  
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3 Comments on 10 Year Interest Only Loans

Great info. What's the downpayment requirement?

07/23/2007 06:27 PM by Ann Heitland, Associate Broker, CRS, GRI , ABR ~ Flagstaff Real Estate/Community (Team Heitland at RE/MAX Peak Properties)

Hi Ann,

We have a no down payment loan using an 80% first and a 20% second that uses the 10 year interest only loan for the first and a 30 due in 15 loan for the second.

Thank you,

Lynne

07/23/2007 06:37 PM by Ann Heitland

Great to know.

07/24/2007 09:38 AM by Ann Heitland, Associate Broker, CRS, GRI , ABR ~ Flagstaff Real Estate/Community (Team Heitland at RE/MAX Peak Properties)

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Loan Officer: Lynne Dewar (Lenders Direct)
Lynne Dewar
Flagstaff, AZ
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