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  Interest OnlyInterest 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.  Kirkland Mortgage Services, a dba of Mortgage Master Service Corp. - 608 State Street South Suite 100-K - Kirkland, WA 98033 Originators License: MLO-115291 Office Phone: (425) 533-3953 Toll Free Phone: (800) 393-6178
Site Map We lend in the state of Washington (license # MLO-115291).  You can find great local Washington real estate information on Localism.com Bill Fores is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business. Seattle Home Loans, Seattle Mortgage Loans, Seattle Home Mortgage, Seattle Real Estate Loans, Seattle Mortgage Rates, Seattle Real Estate Financing, Kirkland Home Loans, Kirkland Home Mortgage, Bellevue Home Loans, Bellevue Mortgage Loans, Washington Mortgage Rates, Washington Home Loans, Washington Home Mortgage, Cle Elum Homes 
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