Interest-Only Home Loans Washington DC

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

Academy Mortgage
(202) 396-5813
4215 Hayes St Ne
Washington, DC

D.C. Housing Finance Agency
(202) 777-1600
815 Florida Ave., NW
Washington, DC

1st Advantage Mortgage
(202) 726-9850
3551 Georgia Ave Nw
Washington, DC

1st Metropolitan Mortgage
(202) 882-5626
743 Park Rd Nw
Washington, DC

AFS Mortgage Inc
(202) 232-8434
1715 Kilbourne Pl Nw
Washington, DC

Foundation Trust Mortgage LLC
703-875-2221
1730 N Lynn St
Arlington, VA

Heritage Mortgage
703-892-0636
2530 18th St S
Arlington, VA

Solution Mortgage Company
(202) 399-1320
415 14th St NE
Washington, DC

High Five Mortgage Company Llc
(202) 388-4824
1740 Gales St NE
Washington, DC

1st Metropolitan Mortgage
(202) 882-5626
743 Park Rd NW
Washington, DC

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

Academy Mortgage

(202) 396-5813
4215 Hayes St Ne
Washington, DC

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