loans are mortgage loans in which a home buyer or homeowner is only
required to pay the interest only each month of the mortgage term.
This is on contrast to a fully amortized loan in which the borrower
is required to pay a fixed loan amount of interest and principal
each month. By requiring the borrower to only pay the interest each
month, the homeowner or home buyer may drastically reduce their
monthly payments and it will enable them to qualify for a higher
An extra added bonus to the interest
only loan is the fact that the borrower is also able to make
additional payments toward the principal amount of the loan. The
amount may be limited somewhat in the beginning of the loan term,
but this option may be beneficial in that it is possible to put more
money directly toward the principal (while still keeping payments
lower than a fully amortized loan.
A Midas Financial loan consultant will be
able to assist you in determining what type of interest only loan
may work best for you and your family.
First Name Last Name
City State Zip
-Est. Income per month (add all borrowers)
-Est. Monthly Bills Excluding Rent/Mortgage
Rate Credit Past BK Self Employed
Type of Loan Desired
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