There are a few different kinds of interest only loans still available. You can get a 30 year fixed rate loan that has interest only payments for the first 10 years. This is a great option if you plan on staying in the house for a long time. After the first 10 years, your loan will be recalculated to establish a monthly payment that will pay the loan down to zero over the remaining twenty years. If you're expecting to be making more money in 10 years, this might be a good option. You can also pay extra towards the principal during the first 10 years so when the loan is recalculated the payments won't jump quite as much. Although the payment does change on these loans, it is 100% predictable because it's based on a fixed interest rate.There are also interest only adjustable rate mortgages (ARMs). These can be fixed for 3, 5, 7 or 10 years and can have corresponding interest only payments. Payments on these have the potential to change unpredictably so you have to be very careful. I would only recommend this type of loan if you know you won't stay in the house for very long, and you also have enough of a down payment that you will be able to sell or refinance when you have to. Remember, these are the kinds of loans that got many people into trouble over the last few years!Make sure you're working with a reputable, honest mortgage professional who will take the time to plan a loan that works for you.

Yes you can get Interest Only (I/O) loan product. Yes the payments are lower. Yes there are tighter guidelines on interest only products. You should get a couple quotes and call it a day. You can click my link for more info or email me rconstantine@myhsoa.com for more info. I have low rates and fees. I lend in all States. Hope this helps. RC

Yes, but nowhere near as many as there used to be. We still offer several interest ony options.

The short answer is yes...interest only products are readily available. They do come with tighter guidelines regarding loan to value(LTV) and combined LTV..if applicable(if there was a 2nd). Best advice is to contact your mortgage professional to go over your specific scenario...I can provide a no obligation analysis...877-369-4319.

There are many options available and the interest only loans are still available as well. However, you will probably want the mortgage company to find out the exact rate that you might be qualify for.My name is Ana from First USA Home Loans please call me at 1-877-472-9887 or email at avichaidist@firstusahomeloans.com for no obligation consultation.