Interest Only Mortgages

Interest only mortgage loans require the borrower to make scheduled monthly mortgage payments but the payments cover only the interest on the loan--they are not required to pay the principle. The option to pay interest only usually lasts for a specified period, typically 5 to 10 years. Interest only mortgage loans are for borrowers who need a lower initial required monthly payment, and understand that the payment will increase in the future as principal is required to be paid. People beginning new careers or those anticipating future earnings growth are ideal candidates for an interest only loan.

After the interest-only period, payments will increase to include principal and interest. Traditional fixed-rate or adjustable-rate Interest only mortgage loans are available from NextHome Mortgage. 

Why an Interest Only Mortgage?

Interest Only mortgage loans should be considered by borrowers who don't have the budget to immediately pay their full mortgage payment, but will at some point in the future. 

Not the option you were looking for? Other NextHome Mortgage offerings: Fixed Rate Mortgages, Lender Paid Mortgage Insurance, No Down Payment Mortgages, and My Community Mortgage.

Career-Specific Loan Programs

DoctorsMedical school loans can impact your home purchasing power. We take that into consideration and make it easy to buy your dream home.

NursesOur unique mortgage programs can help Nurses purchase a home even with substantial student loans.

Police & FireOur Police and Firefighter programs help the men and women who protect our lives and homes. Cost effective home ownership is our goal.

TeachersEducating the youth of our country is a big job. We offer special mortgage programs to help Teachers achieve home ownership.

MilitaryOur Military Veterans mortgage programs are designed to cost effectively provide home ownership to those men and women who protect our lives and country.

PharmacistThe costs and challenges of starting a new career in Pharmacy should not prevent you from achieving home ownership. We can help!

PharmacistOur special low or no down payment mortgage programs for Dentists have flexible underwriting that make buying a new home easy.

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