Interest-Only Home Loans Pittsburgh PA

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

Access Mortgage Corp
412- 770-9116
429 Forbes Ave
Pittsburgh, PA

Aegis Mortgage Corp
412- 922-6837
875 Greentree RD
Pittsburgh, PA

Affordable Mortgage Advisors LLC
412- 561-3000
1910 Cochran RD Manor Oak 2
Pittsburgh, PA

Lynn Barney Financial Services, Inc.
412.681.8810
P. O. Box 81186
Pittsburgh, PA

1st Continental Mortgage of AP
412- 920-4900
200 Cedar Ridge Dr
Pittsburgh, PA

Eastern Savings Bank FSB
412- 788-1600
2000 Cliff Mine Rd (Park West Two Ste 400)
Pittsburgh, PA

A J Mortgage & Home Equity Inc
412- 798-5100
7890 Saltsburg RD
Pittsburgh, PA

Three Rivers Mortgage Co
(412) 261-1157
437 Grant St Ste 432
Pittsburgh, PA

Premier Mortgage Funding of PA Inc
(412) 697-1270
4518 Liberty Ave
Pittsburgh, PA

First Capital Mortgage Inc
(412) 942-1020
1910 Cochran Rd Ste 545
Pittsburgh, PA

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:

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Featured Local Company

Access Mortgage Corp

412- 770-9116
429 Forbes Ave
Pittsburgh, PA

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