Interest Only

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.

James Paz - McKenzie Funding, LLC ML-2765 1101 16th Street - Springfield, OR 97477
Office Phone: (541) 741-7411 Cell Phone: (541) 868-4073
Fax: (541) 687-9440
Toll Free Phone: (866) 485-3726

We lend in the following states: Oregon and Washington

Serving the cities of: Eugene, Springfield, Blue River, Leaburg, Vida, walterville, Junction City, Veneta, Oakridge, Marcola, Mapleton, Lowell, Dexter, Harrisburg, Florence, Cottage Grove, Creswell, triangle Lake, Walton, Portland, Bend, Sisters, Grants Pass, Medford, Jacksonville, Drain, Brookings, Gold Beach, Coos Bay, Port Orford, Klamath Falls, Central Point, Sutherlin, Oakland, Myrtle Creek, Roseburg, Winston, Yoncalla, Elkton, North Bend, Bandon, Reedsport, Coburg, Albany, Corvallis, Lincoln City, Newport, Waldport, Salem, Tillamook, Seaside, Canon Beach, Astoria, Philomath, Lebanon, Sweet Home, Jefferson, Silverton, Mt Angel, Woodburn, Molalla, McMinnville, Monmouth, Newburg, Forest Grove, Beaverton, Hillsboro, Tigard, Oregon City, Milwaukie, Lake Oswego, Gresham, Sandy, Troutdale, Tualatin, Canby, St Paul, Gladstone, Estacada, Willsonville, Redmond, Prineville, The Dalles, Dallas, Indepdndence, Mckenzie Bridge, Hood River, Pendleton, Ontario, Burns, Lakeview, Baker City, La Grande, John Day, Sherman, Warrenton, Aloha, Ashland, Talent, Monroe, Lyons, Detroit, Central Point, Eagle Point, Fairview, Hermiston, Keizer, Wood Village, Winston, Willamina, West Linn, Vale, Vernonia, Union, Umatilla, Toledo, Sublimity, Stayton, Sherwood, Sheridan, Scappoose, Rainier, Phoenix, Myrtle Point, Milton Freewater, and Madras.

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