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.

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.

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Allied Home Mortgage Capital - 2161 Lexington Road, Suite 8 - Richmond, KY 40475
Richmond Phone: (859) 624-1442 Lexington Phone: (859) 263-2008 Toll Free Phone: (866) 826-7789
Toll Free Fax: (877) 826-2564 Richmond Fax: (859) 624-1429 Lexington Fax: (859) 263-1007

Allied Home Mortgage Capital Corporation is the largest U.S. privately held mortgage banker/mortgage broker, with hundreds and hundreds of offices in 50 states and the Virgin Islands. Allied is approved with hundreds of investors with several thousand programs and innovative partnerships have allowed it to deliver customized products to each borrower. Combined with the energy of branch managers who have the freedom to respond to local market conditions, Allied has experienced sequential double-digit growth since it was founded in 1991.  Our home office is located at 6110 Pinemont Drive, Houston, Texas 77092.  Phone (713) 353-0400.

NMLS#MC22368 

Allied provided website: www.mortgageasap.com/ky/2866

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