Interest Only Home Equity Line of Credit (HELOC) and Home Equity Loans
Interest only refinance loans, home equity loans and HELOCs are extremely advantageous for people, who plan to live in their homes for short periods of time or for people, who need low mortgage payments due to job loss, illness and other life events, such as a new baby.
Apply Now - 1 minute! No credit check and No SSN required to match you to an interest only refinance loan. No FEES! No Obligation. Credit scores of 620 & up. You can also use any of the following recommended interest only refinance loan lenders:
Pioneer Lenders. Pioneer Lenders works with a large network of financiers to find you the lowest interest rates. The application form takes 1 minute. No cost and no credit check required.
Interest Only Refinance Loans, Interest Only Home Equity Loans and Interest Only HELOC loans offered in all 50 states including: Alabama (AL) Alaska (AK) Arizona (AZ) Arkansas (AR) California (CA) Colorado (CO) Connecticut (CT) Delaware (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) Mississippi (MS) Missouri (MO) Montana (MT) Nebraska (NE) Nevada (NV) New Hampshire (NH) New Jersey (NJ) New Mexico (NM) New York(NY) North Carolina (NC) 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 Virginia (WV) Wisconsin (WI) Wyoming (WY) New York (NY) Los Angeles (LA) Chicago Baltimore Washington D.C. (DC) Los Vegas Philadelphia Boston New Orleans Los Angeles Seattle Miami Tampa Arizona Memphis Charlotte Dallas Minneapolis Tulsa Cincinatti Las Vegas Detriot Pittsburgh Charlotte Oakland Austin Denver Phoenix San Diego Sacramento Raleigh Portland
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Interest Only Home Equity Loans and HELOC Loans |
| An interest only loan allows you to pay only the interest on your mortgage loan instead the principal + interest. On $250,000 refinance loan, an interest only loan might have a monthly payment of $1000 (5%), where as a P + I payment would be $1500 (6.25%) - resulting in a significant savings of $500/month! |
In states such as California, Nevada, New York and in cities like Boston, Washington D.C., New York city, Philadelphia and Los Angeles, some consumers have no choice but to get interest only loans, in order to afford their first homes. Once the interest only period expires - they refinance into another interest only loan since they are confident their homes will appreciate and they can sell the house and reap the benefits of equity. |
Types of interest only loans offered: 10/30 - Interest only payments for 10 years and then the loan balance is adjusted to be amortized over the last 20 years of the loan. This is a popular loan because it gives homeowners a longer time to live in their homes and accrue equity. 7/30 - Interest only payments for 7 years and then it adjusts. Also popular with consumers. 5/30 - Interest only payments for 5 years and then it adjusts. Also popular with consumers. 3/30 - Interest only payments for 3 years and then it adjusts. Great for people, who will live in their homes for 1 year or 2 years. |
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