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Routing Number: 221572838

Interest Only Mortgages

If you want to qualify for a larger loan while maintaining a low monthly payment for the first years of your loan, our interest only mortgage is the option. Take advantage of low payments where you pay only the interest on your loan during the first 10 to 15 years of the loan's life. After that interest-only period, the mortgage becomes a regula loan with a monthly payment comprised of both principal and interest.

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benefit from:

  • paying interest only on your mortgage loan for the first 10 or 15 years of the loan's life
  • lower monthly payments and a greater tax benefit*
  • making principal payments on the loan at any time with no penalty

So we can further assist you, please call us at 787-751-2266.

  • Payment Example: A $100,000 30-year fixed-rate mortgage with a 15-year initial interest-only period followed by a 15-year fully amortizing period with an 6.50% interest rate and 6.90% APR will have 180 monthly payment of interest only of $541 during the first 15 years and 180 monthly payments of principal and interest of $871 during the remaining 15 years. Amounts rounded to nearest dollar amount. Amounts rounded to nearest dollar amount.
  • Subject to credit approval. Certain terms, condtions and restrictions apply.
  • * Consult your tax advisor