There have been many misconceptions regarding interest only loans in NJ. People in NJ have wrongly associated them with negative amortization (neg-am loans) loans.
Interest only loans allow NJ borrowers the flexibility or option to pay just interest or both P&I. Why would the flexibility of interest only loans be important? Are you someone who is self employed, earns mostly commission, or has some other unstable income situation? Maybe you are someone who would prefer to put the extra money into a college fund or retirement fund instead of paying down your mortgage. If so, then interest only loans may be right for you.
I have helped many customers in New Jersey NJ with interest only loans and they are all extremely happy with the choice they made in that loan program. Not all of them are paying only the interest. Many are also paying down the mortgage balance. Every situation is different and you have to choose whatever is best for you.
To see what interest only loan programs are available in NJ or wherever you are located, then complete the request quote form for a free confidential quote. If you have general questions about interest only loans, then contact us and we will explain everything to you including all of your loan options.
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