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| Interest Only or Flex Payment Loan |
Blackstone Home Mortgage offers Month-by-month flex payments with an interest only loan product.
Each month, you can choose to pay interest only or the combined interest and principal. Your monthly mortgage payment can be up to 30% lower than a traditional mortgage!
How the flex payment loan works.
· You can pay interest-only mortgage payments for 10 years.
· You can choose to pay more toward your principal at any time.
· After the fixed-rate period you pay interest plus principal.
· The interest rate can only adjust every 6 months after the fixed-rate period.
Why make flex payments?
· With a lower mortgage payment, you have more disposable income.
· Use your money to remodel your home, pay off high interest rate bills, finance college, or increase your retirement savings.
Who is the flex payment for?
· People who do not want to put the majority of their income into their home.
· Homeowners wanting to pay off debt.
· People who want to pay off their mortgage sooner.
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