Low Payment Mortgage Programs

40-year mortgage
The primary advantage of a 40-year fixed-rate mortgage is making monthly payments more affordable without taking on the risk of an adjustable rate. However, some of this effect of lower monthly payments may be negated by a higher rate that is charged on the 40-year loan. Rates on a 40-year fixed are often one quarter to one half of a percentage point higher than a traditional 30-year fixed-rate mortgage. Run the numbers on our web site to get an idea about 40 year loans rates, payments and closing costs.

Interest Only & Flexible Payment Loans
If you're a disciplined investor, good with money, a bit of a risk-taker and not buying more house than you can handle, an Interest-Only mortgage could work for you. The period of most interest only loans is usually 5-10 years, during which time, you’ll be paying only the interest on the loan. Another way to get the lowest monthly payment possible is by obtaining a loan with a very low interest rate for the first several years. One example is known as a payment option loan or Flex Pay loan. These loans allow you to set up an optional minimum payment, which can result in low monthly payments, often for the first five years.

Your first step should be to run the numbers on our web site to get an idea about payments, rates and closing costs. Then, use our network of 40 year loan lenders and expert mortgage specialists to find the best loan for your property.

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