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  Interest OnlyInterest 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.
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.  Eagle Nationwide Mortgage Co - A Subsidiary of Eagle National Bank 90 Painters Mill Rd #215 - Owings Mills, MD 21117 Office Phone: (800) 409-3504 Fax: (888) 985-7335 Cell Phone: (240) 328-7499 E-mail: dgunter@eaglerates.net Mortgage Originator License #: 4950 :: Sweepstakes :: Apply Now :: Pre-Qualify :: Loan Programs :: Purchasing :: Refinance :: Debt Consolidation :: Need Cash? :: Imperfect Credit? :: For Sale by Owner :: Reverse Mortgages :: VA Refinance :: Registration :: Request Loan Status :: Loan Application Instructions :: Calculators :: Credit Grade Calculator :: Interest Only Payment Option Calculator :: ARM Loans :: Loan Process :: Privacy Policy :: FAQ :: Glossary :: Forms :: Contact Us :: About Us :: Tell-A-Friend :: Credit Report :: Money Merge Account :: Pay off your home 1/2 to 1/3 of the time :: Link Market :: Granza :: Realtors ::
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