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An "Interest-Only" Mortgage loan is a very popular alternative to traditional fixed rates. Gaining popularity at record speed these home loans allow a consumer to make "Interest- Only" payments during a defined period of time for the loan. This could mean hundreds of dollars in monthly savings, increased purchasing power (since you may qualify on the interest only payment) and a number of other benefits.

LOWER MONTHLY PAYMENTS

With an "Interest-Only" home loan you can benefit from the lower monthly payments and put the "principal" part of your mortgage payment to work for you. Use the money you save to pay off high interest credit card debt, buy a new car or supplement other investments.

GREATER PURCHASING POWER

A large number of homebuyers expect to see income rise over the next few years and today's markets also make a good argument for investing in real estate before the stock market. The "Interest-Only" feature will allow many homebuyers to qualify for a bigger home without having to prove a "bigger salary".

FIXED OR ADJUSTABLE RATES

"Interest-Only" loans come in a variety of fixed and adjustable rate options

UNLIMITED CASH OUT

This is probably the most exciting feature of "Interest-Only" loans. Fixed rates often have strict limitations on how much a homeowner can "cash out" when refinancing a home. "Interest-Only" loans are good for those of you looking to take large sums of equity from your home.

For more information or to Apply Now for an "interest-only" mortgage loan, please contact a Millennium Mortgage Loan Specialists at 800-874-2744.