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.

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Convenient Locations to Serve you

ST.CHARLES COUNTY: 635 Salt Lick Rd. St. Peters MO 63376 * 866-379-3465
SOUTH COUNTY: 6022 S Lindbergh, Ste-100, St Louis MO 63123 * 866-934-0711
FRANKLIN COUNTY: 554 East 5th St, Washington MO 63090 * 866-339-8400
HILLSBORO: 10906 Hwy 21, Hillsboro MO 63050 * 877-788-4013
WARRENTON: 406 E. Booneslick Rd, Warrenton MO 63383 * 636-456-9323
CARLYLE: 867 Fairfax St, Carlyle IL 62231 * 618-594-8648
ALTON: 520 C West Delmar, Alton IL 62002 *

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