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Interest Only

Interest only loan programs provide the same features as fixed and variable rate programs, and they additionally offer a lower payment option. With an interest only loan payment option, you pay only the interest portion of the payment but no principal.

Loan Program	Advantages	Disadvantages
Interest Only Programs	Several payment options Lower monthly payments Qualify for a higher loan amount Qualify at the interest only payment Option to pay the full principal and interest payment Interest only payments for up to ten years	Higher rates Principal loan balance will not decrease during the interest only payment period Payment will be higher for the remaining term

An interest only loan can be more expensive compared to a fully amortized loan. Many lenders add a fee of one-quarter point for the interest only option.

Interest only payment options allow you to qualify at the starting interest only payment. This gives you more buying power and a lower monthly payment compared to an amortized loan.

You pay interest based on your principal balance. On an interest only loan, your principal balance does not decrease, therefore, you pay more interest with this option.

Golden Mortgage, Inc. - P.O. Box 857 - Morgantown, PA 19543
Office Phone: (610) 913-0885 Fax: (610) 913-1334

Call us or email us at info@goldenmortgageinc.com for all of your Pennsylvania mortgage and refinance needs.

Servicing all counties in the state of Pennsylvania including: Chester County, Berks County, Lancaster County, Delaware County, Montgomery County, Bucks County, Philadelphia County, Lebanon County, Lehigh County, York County, Schuylkill County, North Hampton County, Carbon County, Monroe County, Luzerne County, Pike County, Lackawanna County, Wayne County, Susquehanna County, Wyoming County, Bradford County, Dauphin County, Northumberland County, Columbia County, Sullivan County, Adams County, Cumberland County, Perry County, Juniata County, Mifflin County, Snyder County, Union County, Lycoming County, Tioga County, Potter County, Clinton County, Centre County, Huntingdon County, Fulton County, Franklin County, Allegheny County, & Erie County just to name a few.

You do not need to come to our office for closing. We will coordinate closing in an office near you. Every effort will be made to make obtaining your PA mortgage or refinance as smooth and convenient as possible.

Licensed by the PA Department of Banking