Interest-Only Home Loans Oakland CA

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

Bayline Mortgage
(510) 844-1805
678 65th St
Oakland, CA

Washington Mutual
(415) 543-0404
201 Mission St., 28th Flr.
San Francisco, CA

A & B Lending
(415) 357-4454
301 Howard Street Suite 870
San Francisco, CA

Jay Sondhi, FHA Specialist, Guarantee Mortgage
(415) 694-5512
636 4th Street
San Francisco, CA

Jay Sondhi, FHA Specialist
(415) 694-5512
636 4th Street
San Francisco, CA

Wells Fargo
(800) 441-4932
420 Montgomery St.
San Francisco, CA

Bank of America
(415) 622-2155
1455 Stockton St
San Francisco, CA

Integrated Mortgage
(415) 255-2222
1829 Market St.
San Francisco, CA

Bank of America
(415) 622-0283
1525 Market St
San Francisco, CA

Guarantee Mortgage Corporation
(415) 441-5050
601 Van Ness Ave., Ste. P
San Francisco, CA

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

Bayline Mortgage

(510) 844-1805
678 65th St
Oakland, CA

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