Refinancing Your Home
Give us a call to find out if now is the right time to refinance your mortgage. You may be able to lower your monthly payments or reduce the time it takes to pay off your loan.
Interest Only Mortgages:
- There are no reductions to the principal amount.
- There is no provision for negative amortization.
- Payments may increase up to an amortized amount, but the loan balance itself does not increase.
- Generally, interest-only payments are limited to the first 5, 10 or 15 years of the loan.
- After that, the loan is amortized for the remainder of its term.