Let People's Choice Mortgage, VA unlock the door to your new home with an Interest Only Mortgage. You will be amazed by the flexibility of our innovative program that allows you to pay only the interest portion of your monthly mortgage payment for 10 years on an adjustable rate that converts to a 30 year fixed. If you prefer to build more equity each month, you can simply make a principal payment, of any size, in addition to interest. As a result, future interest only payments will be based on the reduced principal amount remaining. With the interest only payment option, you can qualify for a larger home.

• Minimize the payment and maximize the home
• Use the cash for the principal payment, for other bills or higher yielding investments
• Apply lump sum payments with no penalty
• Qualify for a larger house now because of the reduced required payment
• Trade up to your dream home without increasing your monthly payment
• The ultimate cash management tool
  
   

3/1, 5/1, 7/1 ARM
Converts to Fixed Rate
5/1 ARM features a choice of either a 5 or 10 year interest only period then converts to a fixed rate for the balance of a thirty year term. Once the interest only period ends, the unpaid principal balance will amortize for the remaining term.