You’re looking to purchase a home however, you want more control over your mortgage payments. While the security from a 15 Year Fixed Rate Mortgage or a 30 Year Fixed Rate Loan might be the best option for some borrowers, if your job offers bonuses or commissions on a regular basis, an Interest Only Mortgage could just be the best fit for you. At California Home Solution we’re here to help you find the best type of solution for your financial situation, and an Interest Only Mortgage might be the loan that meets your needs.How can you tell whether one of our Interest Only Loans might be appropriate for you? Generally Interest Only Loans are beneficial if one of the following applies to you:
- You want to borrow money to purchase a home but you expect to sell your home or refinance prior to the interest-only period ending
- Your income relies heavily on bonuses or commission checks that come infrequently during the year
- You are looking for a first time mortgage and expect to earn significantly more income in the next few years
- You plan to invest your savings from interest-only rates by investing into something that would bring a higher rate of return
An Interest Only Mortgage isn’t for every borrower, and you likely have questions about the types of mortgages that will best suit your individual needs.Contact us today to see what solution is right for you.