Interest Only options are available upon request.

As with any loan vehicle, benefits and risks must be weighed carefully. And, unfortunately, there are some common misconceptions tied to interest only loans.

Not all borrowers fully understand when they enter into these loans that once the interest only option expires, the borrowers have to play catch up on their principal payments. Monthly expenditures then become even higher than with conventionally amortizing loans. And, because no principal has been paid on the loan, the loan balance, after up to ten years of making payments, remains unchanged. If the real estate market should stagnate, or worse, decline, a borrower could owe more than their house is worth.