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Interest Only ARMs
Big Monthly Savings or Bigger Home - You Decide!
Baltimore American Mortgage and RE/MAX Exclusive Realty make it easy to buy a new home with our new Interest Only ARMs. You pay interest only, with no
principal, for the first three, five or seven years. Interest only loans offer more flexibility and buying power. You have the option to choose a lower monthly payment or qualify to purchase a larger
home (since you qualify on the interest payment only).
Interest Only ARMs offer:
- Reduced Monthly Payments
Paying only the interest portion of your mortgage loan increases your cash flow - making homeownership more affordable.
- Financial Flexibility
You have control over your financial situation! Redirect your cash flow to increase your savings or investment funds, maximize your contribution to your 401k or other tax deferred
retirement accounts or pay off any high-interest credit card debt. It's your money.
- Tax Advantages
Since your monthly payments are interest only, you may benefit from a longer period of interest reductions.*
- Principal Reduction
You have the option to make principal payments during the "interest only" period, but are not required to do so.
Savings Example: You can save over $260.00 a month on a loan amount of $250,000. This savings is based on an interest rate of 5.75% with a 30-year term.
| Principal & Interest |
$1458.93 |
| Interest Only |
$1197.92 |
| Monthly Savings |
$261.01 |
Over 12,000 homeowners have put their trust in Baltimore American Mortgage and you can too! Please feel free to contact our Mortgage Loan Center at 1.800.845.7526
or complete the form below and a loan representative will contact you at your earliest convenience. |
