Anyone know of a lender that does interest only refi?

[Sean Johnson]

I just found out about interest only refinance and I think that is the loan that's going to work best for me. Only problem is that I'm having a tough time finding a lender that still provides one.

Does anyone have any info on who would still be providing those?

[Shaun Weekes]

Originally posted by @Sean Johnson:

@Shaun Weekes

Yeah I don't ever want to pay the principal down. Why would I do that when I can continue to leverage against the home every 10 years for an increasing amount of cash out plus monthly cash flow from rent? There's no benefit to taking the time to pay it down over the next 15 years and have the market pass me by as I slowly die of old age...

I'm sorry, but I'm looking for lender information not for outdated advice

To answer your question all you have to do is ask your Loan Officer or Broker add I/O to your new loan. This is standard and super simple on all property types.

I've been in the mortgage game for 16 years as an LO and Processor and I've seen cycles that KILL appreaciation. From now to 10 years there will be a market correction and if your home loses value and principal didn't go your chances of becoming upside down on your home are much greater. You need to Pull Out ( rents & refinance ) and Push down ( Mortgage Balance) to obtain maxium LTV ( Loan to Value ) year after year. Appreciation shouldn't be a factor because you have no control over it unless it's forced by a rehab.

I also don't want to pay off any of my (4) investment homes but paying down the mortgage coupled with rental income will ensure that I can always refinance my homes for more opportunities every 1 to 7 years or however I see fit.  Regardless of market corrections.

Since you're so focused on I/O maybe you should get HELOC and at least that way your entire mortgage won't stay at the same balance forever. I'm all about leverage and UOPM ( Using other peoples money to make money ) but you will go upside down faster if you use I/O only methods on 100% of your balance.

If your RE investing strategy is based on appreciation first, you're going to crash and burn.  Appreciation should only be looked at if it's forced by a rehab.  Good luck