Interest Only

Home Ownership Accelerator Intro

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.

Loan Program	Advantages	Disadvantages
Interest Only Programs	Several payment options Lower monthly payments Qualify for a higher loan amount Qualify at the interest only payment Option to pay the full principal and interest payment Interest only payments for up to ten years	Higher rates Principal loan balance will not decrease during the interest only payment period Payment will be higher for the remaining term

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.

Rancho Funding - 611 K St Suite #B-204 - San Diego, CA 92101
Fax: 1-877-814-7718 Toll Free Phone: 1-877-664-6368

Loan approval is not guaranteed and is subject to verification of specific information that requested at the time of application. Specific rates may not be available for all borrowers. Rates subject to change. California Dept. of Real Estate, Broker #01421018 “Home Ownership Accelerator” and the yellow flying house logo are trademarks of CMG Financial Services, Inc Home Ownership Accelerator® is a proprietary financial product innovated and funded by CMG Mortgage Services, Inc., San Ramon, CA, for assignment and servicing by GMAC Bank®, Member FDIC, Horsham, PA. This is not a bi-weekly program usually refered to as the Mortgage Accelerator or Mortgage Excellerator.

Macquarie Asset Manager(TM) registered trademark of Macquarie Mortgage USA

Programs available in: Alabama, Al, Alaska, AK, Arkansas, AR, Arizona, AZ, California, CA, Colorado, CO, Connecticut, CT, Deleware, DE, Florida, FL, Georgia, GA, Hawaii, HI, Idaho, ID, Illinois, IL, Indiana, IN, Iowa, IA, Kansas, KS, Kentucky, KY, Louisiana, LA, Maine, ME, Maryland, MD, Massachusetts, MA, Michigan, MI, Minnesota, MN, Mississippi, MS, Missouri, MO, Montana, MT, Nebraska, NE, North Carolina, NC, Nevada, NV, New Hampshire, NH, NEw Jersey, NJ, New Meico, NM, New York, NY, North Dakota, ND, Ohio, OH, Oklahoma, OK, Oregon, OR, Pennsylvania, PA, Rhode Island, RI, South Carolina, SC, South Dakota, SD, Tennessee, TN, Texas, TX, Utah, UT, Vermont, VT, Virginia, VA, Washington, WA, West Verginia, WV, Wisconsin, WI, Wyoming, WY

CAMB - California Association of Mortgage Brokers

NAMB - National Association of Mortgage Brokers