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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.

Loan Program	Advantages	Disadvantages
Interest Only Programs	Several payment options Lower monthly payments Qualify for a higher loan amount Qualify at the interest only payment Option to pay the full principal and interest payment Interest only payments for up to ten years	Higher rates Principal loan balance will not decrease during the interest only payment period Payment will be higher for the remaining term

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.

Landmark Mortgage Lending, Inc. - 204 Lithia Pinecrest Rd. - Brandon, FL 33511
Office Phone: (813) 655-7272 Fax: (813) 655-7251

WE MAKE LOANS, NOT EXCUSES !!!

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Serving the Entire Tampa Bay Area, all of Hillsborough County, Tampa, Carrollwood,New Tampa,Thonotosassa,Temple Terrace,Seffner,Dover,Brandon,Valrico,Riverview,Apollo Beach,Ruskin,Wimauma,Keysville,Durant,Valrico,Plant City, Pinellas County, Pasco County, Polk County, Manatee County and Florida Coast to Coast.