10-15 year interest only mortgage products?

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10-15 year interest only mortgage products?

Bernadeau C.Pro Member
Rental Property Investor · Orlando, FL · Member since 2014 · 540 posts · 230 votes

Does anyone know any good 7-10-15 year interest only mortgage products for buy and hold investors? would love any feedback or experience if you have used those before.

Thank you

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Greg ScottPro Member
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
4y

If you are a buy & hold investor, why use any of those products?  You maximize your profits by keeping your money working hard.  Paying down your principal quickly makes your money lazy and hurts your total profitability.

I'd use 100 year loans, if they were offered.  

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  • Greg ScottPro Member
    Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
    4y

    If you are a buy & hold investor, why use any of those products?  You maximize your profits by keeping your money working hard.  Paying down your principal quickly makes your money lazy and hurts your total profitability.

    I'd use 100 year loans, if they were offered.  

    3Reply
  • Robin SimonBusiness Member
    Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
    4y

    Bernadeau / Greg - best of both worlds - you can go with a DSCR IO loan, its structured still as a long-term 30-year loan with a fixed interest rate, but it will be interest-only for the first 10 years. This allows you to have that low IO monthly payment for a long-term hold, but if for whatever reason you don't want to or can't refinance at the 10-year mark, there is no balloon pmt but 20 more years of term!

    [email protected]
    Harpoon Capital512 Reviews
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  • Bernadeau C.Pro Member
    OP
    Rental Property Investor · Orlando, FL · Member since 2014 · 540 posts · 230 votes
    4y

    @Greg Scott the point is to maximize cash flow with IO product and then refi or covert to a fix X years term. @Robin Simon that is exactly the type of product that i am looking for. do you have any recommendations? 

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  • Robin SimonBusiness Member
    Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
    4y

    Yes, I can help you (I lend on that product myself), will send you a PM!

    [email protected]
    Harpoon Capital512 Reviews
    WebsiteView Page
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  • Greg ScottPro Member
    Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
    4y
    Quote from @Bernadeau C.:

    @Greg Scott the point is to maximize cash flow with IO product and then refi or covert to a fix X years term. @Robin Simon that is exactly the type of product that i am looking for. do you have any recommendations? 

    Sorry, I misread what you were looking for.  I thought you wanted shorter amortizations.
    0Reply
  • Matthew CrivelliBusiness Member
    Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
    4y

    Would be happy to take a look! 5/7/10 Year I/O is available 30Y Fixed on 1-8 units. @Bernadeau C.

    [email protected]413-348-8346
    Freedom Capital Funding, LLC523 Reviews
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  • Bernadeau C.Pro Member
    OP
    Rental Property Investor · Orlando, FL · Member since 2014 · 540 posts · 230 votes
    4y

    @Matthew Crivelli thank you. i will reach out.

    0Reply
  • Jonathan Taylor
    Lender · Los Angeles, CA · Member since 2017 · 916 posts · 647 votes
    4y

    @Bernadeau C. You can do up to a 40 yr loan. Ten year I/O and then rolls into a 30 yr am. No change in rate or cost. Or have a 30 yr product with the first 1-10 yrs as an IO period and the remaining years the loan is fully amortized so no balloon payment at the end. If you still want options, happy to go into further details. These options are DSCR based as well.

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  • Dave Skow
    Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
    4y

    @Bernadeau C.- dont think these  exist for investment proerpties 

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