Interest-Only Mortgage Loans
interest-only payments on your mortgage loan for the first five or seven years of your 30-yr amortized loan. These loans have been around for 10+ years but are becoming popular among homeowners looking to buy their first or higher-priced home.

see loan product: interest-only loans

Minimum Monthly Payment Plans
advertised as: $200,000 for $XXX/Month.

Plans include $80K, $145K, $200K and even $300K mortgages at unbelievable low minimum monthly payments. These plans are designed for homeowners who are looking at lower initial payments to start with expectation to refinance their mortgage later on.

see loan product: minimum payment plans

100+% Home Buyer Programs
you can borrow more money than the appraised contractual purchase price and use the extra money to pay closing costs. Homeowners use these loans when they don't have enough money for the down payment and closing costs.

see loan product: zero-down mortgage plans

40- and 50-Year Mortgage Loans
you can lower your monthly payment by extending your term to 40-50 years over the standard 30-year term. Homeowners use 40-50-year mortgages to buy a higher-priced home.

see loan product: fixed rate payment plans

Loan Advantages:

interest-only:
lower monthly payments. You can afford your first home or a higher priced home by using interest-only loans. Your monthly savings can be used to pay the principal or other debts.

minimum-payment:
generally the lowest monthly payments plans. Designed for homeowners in high-priced markets. Your monthly savings can be used to pay the principal or other debts.

100%+:
you can borrow more money than the home purchase price to pay for closing and settlement charges.

40-50 Year Mortgages:
you can lower your monthly payment to buy a higher-price home.

Loan Disadvantages:

interest-only:
no principal being paid during the interest-only period. If home values decline, you could lose money. Once the interest-only payment term expires (usually in 5-7 years), your monthly payment will increase substantially.

minimum-monthly payment:
potential negative amortization that increases your total borrowed amount. Once your initial period ends, your payments may increase 3-4 times.

100%+:
you will pay a higher interest rate and PMI insurance since your borrowed amount exceeds the 20% required down. Your overall monthly payment will be higher.

40-50 Year Mortgages:
you will build your equity slowly. You will likewise pay a higher interest rate over 30-year mortgage.

Money Saving Tips:

you can start with these plans above and use our mortgage payoff plan to help payoff your mortgage in 1/3rd of the time saving your thousands in interest

— plus imagine how to use your mortgage payoff bonus to plan for college, retirement, other

see how the mortgage payoff plan works