Living Large with a Lower Payment Yes, that’s right. You can purchase or refinance the home of your dreams and pay interest only for 10 years. You can choose to refinance at the 10 year mark, sell the home, or start paying the principal and interest payments for the remaining 20 years. The beauty of this loan is that you pay less each month so you can use those funds to do whatever you wish. In an example of a $1,250,000 purchase with 20% down, the interest only payment is $3,750. On a regular principal and interest payment, the payment would be (1 comments)
delaware home loans: My Community Mortgage
- 08/05/13 01:05 AM
My Community Mortgage – Community Solutions There is a little known mortgage loan program especially for educators, public safety workers, health care workers and military personnel. Down payment can be as little as 3% and it doesn’t have to come from the borrowers’ own funds. There is no up front mortgage insurance added to the loan balance and the monthly mortgage insurance is about half that of what is required on an FHA home loan. This loan program allows for flexible sources of funds for closing costs, pre paids and down payment. The seller can contribute up to 3% of (1 comments)