ALLIED EQUITY A Diversified Mortgage Company
400 North Mountain Ave., Suite 223, Upland, CA 91786
Phone  909-932-9226 Fax  909-803-9840

Interest Only Mortgages

The Interest Only Mortgage is back! This type of mortgage was very popular a few years ago and is the perfect option for those borrowers that can afford the normal principal and interest payment, but prefer to have that payment flexibility of the lower payment option top free up some cash flow every month.

The following criteria is usually needed in order to qualify for the Interest Only Loan. Lending minimum criteria is subject to change, but the basic variables are:

- Loan Amounts between $250,000 - $2,000,000 available

- 5 year fixed interest only, with a 10 year interest only period, then amortizes into a 20 year loan after 10 years 

- Minimum FICO scores needed, are set at 720 at current criteria.

- Maximum Loan to value is set at 80%

- Primary homes as well as Secondary homes are eligible with cashout options.

 Please call me or email me if you would like a scenario payment quote and I can work up an option for you.

 

Contact Me

Apply Online 

 

JOE SANCHEZ - 909-932-9226 

NMLS LICENSE 359090 / 359382  BRE LICENSE: 01201910 

 

Joe Sanchez
Allied Equity
Ph: 909-932-9226Fax:909-803-9840
400 North Mountain Ave., Suite 223
Upland, CA 91786 US
CA DRE License # 01201910, NMLS: 359382, Company ID: 359090
www.alliedequity.com
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