interest only mortgages  ::  interest only loans    

   interest only mortgages  ::  interest only loans

:: Interest Only Mortgages ::

interest only mortgages  ::  interest only loans


Florida Mortgage Corporation offers a number of "interest only" mortgages.

Rather invest your money in high-yield and tax-deferred savings? Need extra cash to pay off high-interest, non-tax-deductible consumer debt?




The Interest Only Mortgages feature offers:
  • Reduced monthly payments
    With our Interest-Only feature, your monthly payment consists of interest alone for the first three, five, seven, ten years. 30 year fixed rate also available. This increases your cash flow - making homeownership more affordable.
  • Financial diversity
    Redirect your cash flow to supplement your savings or investment funds, maximize your contributions to 401k or other tax-deferred retirement accounts, or pay off any higher-cost, non-tax-deductible debt. It's your money to use as you see fit.
  • Greater tax deductions
    Because payments are interest-only, you may benefit from larger interest deductions during the interest only period.*
  • Flexibility
    You are welcome to make principal payments during the "interest only" period, but are not required to do so.
Best for people who:
  • Are very focused on money management
  • Want to reduce their monthly mortgage payment
  • Do not intend to be in their homes more than a few years
Interest only mortgages and loans as the name suggests, means you pay interest only for the first three, five, seven, ten years of the loan, thereby lowering your monthly mortgage payment by quite a lot.
This type of loan can be of value for people who want to save or invest the money they would have paid in principal.
Florida Mortgage Corporation offers interest only mortgages and  loans in a variety of fixed and ARM mortgage programs. With some interest only mortgage programs, you lock in a fixed rate for the life of the loan term, while others resemble Adjustable Rate Mortgages, which carry a fixed rate for a certain number of years and then adjust every six months to a year.
If a large part of your income is non-salary - or if you want to maximize the tax benefits of a mortgage - the interest only mortgages option may be a sensible choice. Unlike the traditional 30-year amortizing loan, which bills you monthly for principal and interest, the interest only mortgages option allows you to pay interest only for a specific period of time depending upon the term. 




interest only mortgages  ::  interest only loans        Purchase   ▪   Refinance

        Fixed & Adjustable Interest Rates

        Stated Income Option Available

        Primary  ▪  Second/Vacation  ▪  Investment Property

        Up To Two Million Dollars Loan Amount

        Cash Out Refinance

interest only mortgages  ::  interest only loans        No Down Payment Option Available


In a speech to a credit union group, Fed Chairman Alan Greenspan questioned whether fixed-rate mortgages were the most cost-effective means of financing a home purchase.  He said "American homeowners clearly like the certainty of fixed mortgage payments" but pay several thousands of dollars a year for the benefits.

Greenspan said homeowners "might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade"

Greenspan noted that if homeowners are "willing to manage their own interest-rate risks, the traditional fixed-rate mortgage may be an expensive method of financing a home." Feb. 24, 2004


interest only mortgages  ::  interest only loans


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