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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.

Riverstone Mortgage - 708 Main Street, Suite 880 - Houston, TX 77002
Office Phone: (713) 227-8000 Fax: (713) 227-8004 Toll Free Phone: 1-800-836-5210

We lend in the following states: TEXAS

Monday thru Friday - 9am-5pm CST; Nights & Weekends - By Appointment

Rates shown are subject to market conditions and may change at any time without notice. Your rate may only be locked by executing a written Rate Lock Agreement & Good Faith Estimate with a licensed loan officer. Call 1-800-836-5210 to execute a rate lock. Not everyone will qualify. Rates shown are for a: purchase, primary residence, single family residence, in Texas, with >/=20% down payment (3.5% for FHA), full income, full asset, full employment documentation, >740 middle credit score (>640 for FHA), with an escrow account, 30 day lock period, without a second lien.

Texas State Licenses: Justin S Navaretta, CRMS, TX MB Lic.#81146 & TREC Lic.#0577418; Michael L Gale TX MB Lic.#1665; William R Webb TX LO Lic.#84225. Riverstone Mortgage is a Registered Service Mark. Riverstone Mortgage Partners, LP DBA Riverstone Mortgage, TX MB Entity Lic.#81147. All content on this website is copyrighted and may not be copied or reproduced in full or in part.Mortgage Rates, Houston Mortgage, Austin Mortgage, Dallas Mortgage, San Antonio Mortgage, El Paso Mortgage, Corpus Christi Mortgage, Round Rock Mortgage, Tampa Mortgage, Orlando Mortgage, Tallahassee Mortgage, Dunedin Mortgage, Woodlands Mortgage, Kingwood Mortgage, Sugarland Mortgage

NAMB - National Association of Mortgage Brokers

TAMB - Texas Association of Mortgage Brokers