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Interest Only Loans
Katz Mortgage Team, backed by Fairway Independent Mortgage Corporation, offers a wide variety of Interest-Only loans. We handle all these transactions in house so that your deals close smoothly, and on time. Please feel free to call toll-free 866 742-8400 to discuss your specific situation and find out if an Interest-Only loan is right for you.
Low Payments: Interest-Only loans are the perfect choice for the more sophisticated borrower who wants lower monthly payments and can utilize the savings. A tremendous benefit can be achieved by using the monthly savings to pay down high interest debt, or invest in a long-term savings plan.
Purchase or Refinance: Even cash-out refinances are available. An excellent choice to consolidate debt into one low payment.
Loan Types: Interest-Only loans are available for fixed rates, adjustable, or hybrid programs. Just about any loan type can be structured as Interest-Only from loans that change monthly, yearly, after five years, after ten years, or even 30-year fixed programs.
Property Types: Single family's, Condominiums, duplexes, triplexes, and quad-plexes, are all eligible for Interest-Only mortgages. Residence: Primary residence, as well as, second homes, vacation homes, and investor properties are acceptable.
Loan-to-Value: 100 % LTV is offered on almost all Interest-Only programs. Call for specific credit score and property type guidelines.
Piggy-back Loans: By coupling a first mortgage and second mortgage together, we are able to offer loan-to-values above 80% with no mortgage insurance.
Stated Income Programs: We have loans that do not require verification of income, excellent for the self-employed investor who has a complex financial situation.
No Income/No Asset: These Investor programs do not require verification of either assets or income. These programs rely exclusively on credit and loan-to-value.
Automated Underwriting: We use both the Fannie Mae and Freddie Mac automated systems to allow for maximum underwriting flexibility.
Equity Lines: We offer home equity lines of credit from $25,000 to $500,000.
Resident Aliens: We offer investor programs to lawful resident aliens meeting all the same credit standards as U.S. Citizens.
Loan Amounts: From $80,000 to $3,000,000 with no pre-payment penalty.
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