Interest Only

Interest only loan programs provide the same features as fixed and variable rate programs, and they additionally offer a lower payment option. With an interest only loan payment option, you pay only the interest portion of the payment but no principal.

An interest only loan can be more expensive compared to a fully amortized loan. Many lenders add a fee of one-quarter point for the interest only option.

Interest only payment options allow you to qualify at the starting interest only payment. This gives you more buying power and a lower monthly payment compared to an amortized loan.

You pay interest based on your principal balance. On an interest only loan, your principal balance does not decrease, therefore, you pay more interest with this option.

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Carolina Equity Services, Inc. - 1051 Pemberton Hill Rd, Suite 101 - Apex, NC 27502
Office Phone: (919) 467-6192 Fax: (919) 467-1045 Toll Free Phone: 1-888-308-4405
email address: Tony@carolinaequity.com email address: Christine@carolinaequity.com

NMLS #87535

Carolina Equity Services, Inc. is a proud member of:  

• National Association of Mortgage Brokers (NAMB);
• NC Association of Mortgage Professionals (NCAMP);
• The Better Business Bureau 
• All members adhere to a strict code of business ethics
• We lend in the following states: NC