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How Do Interest Only Loans Work?
While most home loans require the borrower to immediately begin repaying both the principal and the interest, as the name suggests interest only loans only require that the borrower repays the interest over a set period of time. Depending on the type of loan that the borrower decides on they will only pay interest only for between 5-7 years, after that the borrower begins also repaying the principal amount initially borrowed.
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Our Range of Principal and Interest Loans
Principal and Interest Loans
At Icon Home Loans our professional and focused financial experts and mortgage brokers endeavour to deliver a complete range of principal and interest loans. Based on your financial situation and aspirations a loan that does not require repayments on the principal for 5 to 7 years can be an attractive option that allows you to save up enough money to pay off the principal once the period of time is over.
Why Choose Us?
At Icon Home Loans we won’t just represent your interests to lending bodies, we will also provide all of our valued clients with superior advice that is tailored to their specific needs and requirements, ensuring that they have the best intelligence and remain educated as to the current property market, as well as the risks and rewards of each type of loan. Drawing directly on nearly 20 years of extensive experience assisting our clients gain approval for mortgages and loans, Icon Home Loans are effective and clear communicators, able to discuss complex terms and loan features in English, Mandarin, and Cantonese. To speak directly to our dedicated and expert team call us on 0499 426 600.
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Get in touch with us today
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