Interest-Only Home Loans Buffalo NY

There are many benefits to interest-only mortgage loans and many situations where an interest-only mortgage loan could be best for you. Find out what an interest-only mortgage loan is and if it can help you.

Local Companies

Banas Mortgage Co. Ltd.
(716) 633-5888
27 N. Long St.
Williamsville, NY

Premium Mortgage Corp.
(716) 633-0501
6815 Main Street
Williamsville, NY

Bank of America Mortgage
(716) 635-2095
475 Crosspoint Pkwy.
Getzville, NY

Ann M. Carbeck
(716) 984-7044
60 Chatham Ct.
Orchard Park, NY

Expert Funding, Inc.
(716) 648-6691
5893 Camp Rd., Ste. 5
Hamburg, NY

American Mortgage and Management Consultants
(716) 696-3800
345 Franklin St
Buffalo, NY

Aegis Lending Corp
(716) 835-7201
300 Corporate Pkwy Ste 118N
Buffalo, NY

First Republic Mortgage Bankers
(716) 332-4000
438 Main St
Buffalo, NY

Arcs Commercial Mortgage Co Lp
(516) 390-4623
50 Charles Lindbergh Bl
Uniondale, NY

Global Mortgage
(716) 677-2750
1780 Union Rd
West Seneca, NY

Here are some of the situations where an interest only mortgage loan might be beneficial to you:

If you are in a situation where your income is sporadic and would rather have the option of paying as little as possible sometimes and then paying larger amounts when there is more income, for example, a real estate agent or loan officer.

If you are investing your mortgage payment savings in something else that is low risk, and has a much higher return on your money than your house payment.

If you are temporarily in a situation where your income will be low for a while but then increase later on.

If your mortgage is only temporary, for example, an investor looking to flip a property or someone who is working on a fixer upper. It would be good in any situation where it would be in your best interest to keep the payment low as opposed to creating equity in the home.

How much can you save with an interest only mortgage loan? For loan amounts under 500,000 you can usually save around 10% or more off of your mortgage payment. However, that number can vary depending on your individual situation.

An interest-only mortgage loan can be very beneficial because it can help you save money on your payment when there are other things that you would like to invest your money in. It also gives you flexibility when your income is sporadic and you need to make sure that you will always be able to make your payment on time.

There are many lenders that can help you with an interest only mortgage loan. To see our recommended interest only mortgage lenders, click here: www.abcloanguide.com/interestonly.shtml

About the Author:

Carrie Reeder is the owner of www.abcloanguide.com. ABC Loan Guide is an informational loan website with informative articles and it has recommended lenders to help you get the best mortgage service possible.

carrie@abcloanguide.com

Article Source:

thePhantomWriters Article Submission Service

Featured Local Company

Banas Mortgage Co. Ltd.

(716) 633-5888
27 N. Long St.
Williamsville, NY

Save Articles.DirectoryM.net

RSS feed

Bookmark this on Delicious

Bookmark this page