What is a Interest-Only Loan?
An interest-only loan allows you to pay only the interest portion of your loan for a set initial period — typically 5–10 years — before transitioning to principal and interest payments. This results in lower initial monthly payments.
Key Features
- Lower required payments during the interest-only period
- Flexibility to pay down principal when you choose
- Available on fixed and adjustable rate products
- Useful for investors and high-income borrowers with irregular income
- Interest-only periods typically 5–10 years
- Available for primary, secondary, and investment properties
Who Is This For?
Investors, self-employed borrowers, or those with variable income who want lower required payments with the option to pay more toward principal.
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