Could a Higher Mortgage Rate Mean a Lower Payment?

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Could a Higher Mortgage Rate Actually Mean a Lower Monthly Payment?

It sounds backward, but it's possible with certain interest-only mortgage programs.

Consider a $400,000 mortgage:

• Traditional 30-year loan at 7.00%: $2,661/month
• Interest-only loan at 7.50%: $2,500/month

That's approximately $161 less per month, even with a higher interest rate!

Select non-QM programs offer 10 years of interest-only payments followed by 20 years of principal-and-interest payments.

Interest-only financing isn't right for everyone, but it may provide valuable cash-flow flexibility for qualified borrowers.

For more details, Click Here

Want to see how the numbers compare for your situation? Let's talk.

Rob Clark | Home Loan Consultant
Firestone Financial Group
Phone: 209-227-7745 | 559-476-9279
Email: rbrtclark53@gmail.com
Website: www.RobertClarkLoans.com

NMLS #357788 | Company NMLS #301522
CA DRE #01148307 | Equal Housing Lender

Illustrative rates and payments only, not current loan offers. Payments exclude taxes, insurance, and other applicable costs. Interest-only payments increase when principal repayment begins. All programs subject to qualification and lender guidelines.