The interest only loan program is the hottest financial tool in the mortgage industry presently. It offers so many advantages that it is worth a look whether or not you want to follow through with it.

The most important is NO NEGATIVE AMORIZATION.

The loan is an adjustable mortgage tied to the LIBOR. The Libor is an abbreviation for “London Interbank Offered Rate” and is the interest rate offered by a group of international banks located in London for U.S. dollar deposits, or the flow of U.S. dollars through international banks. Historically the LIBOR index has been one of the lowest indices around.

6 Month- Interest Only Rate*	5.875%
5-Year Interest Only Rate*	6.0%

*Last Posted 5/7/2008 4:54:31 PM
*The rates quoted on our website are based on the typical mortgage scenarios. Rates/APRs listed are those that are offered to consumers with "good" credit characteristics as defined by the institution offering the product. Rate/APR and terms may vary based on the credit worthiness of the individual.
   Rates are subject to change without notice.

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