Florida Mortgage Corporation offers a number of "interest
Rather invest your money in high-yield and tax-deferred
savings? Need extra cash to pay off high-interest, non-tax-deductible
The Interest Only Mortgages feature offers:
Reduced monthly payments
With our Interest-Only feature, your monthly payment consists of interest
alone for the first three, five, seven, ten years. 30 year fixed rate also
available. This increases your cash flow - making homeownership more
Redirect your cash flow to supplement your savings or investment funds,
maximize your contributions to 401k or other tax-deferred retirement
accounts, or pay off any higher-cost, non-tax-deductible debt. It's your
money to use as you see fit.
Greater tax deductions
Because payments are interest-only, you may benefit from larger interest
deductions during the interest only period.*
You are welcome to make principal payments during the "interest only"
period, but are not required to do so.
Best for people who:
Are very focused on money management
Want to reduce their monthly mortgage payment
Do not intend to be in their homes more than a few years
Interest only mortgages and loans as the name suggests, means you pay interest only for
the first three, five, seven, ten years of the loan, thereby lowering your
monthly mortgage payment by quite a lot.
This type of loan can be of value for people who want to save or invest the
money they would have paid in principal.
Florida Mortgage Corporation offers
interest only mortgages and loans in a variety of
and ARM mortgage programs. With some interest only mortgage programs, you
lock in a fixed rate for the life of the loan term, while others resemble
Adjustable Rate Mortgages, which carry a fixed rate for a certain number of
years and then adjust every six months to a year.
If a large part of your income is non-salary - or if you want to maximize
the tax benefits of a mortgage - the interest only mortgages option may be a
sensible choice. Unlike the traditional 30-year amortizing loan, which bills
you monthly for principal and interest, the interest only mortgages option
allows you to pay interest only for a specific period of time depending upon
3/1, 5/1, 7/1, 10/1 Arms both
Libor & Treasury
30 Year Fixed
Income Option Available
Primary ▪ Second/Vacation ▪
Up To Ten Million Dollars Loan Amount
Payment Option Available
Many Other "Interest Only" Mortgage Programs - Call For