Question 1

Who should use an interest-only loan in Rio Dell?

Accepted Answer

Investors and self-employed buyers with strong assets. It's not a fit for borrowers who need predictable long-term payment stability.

Question 2

What happens when the interest-only period ends?

Accepted Answer

Payments reset to cover principal and interest. That can mean a significant payment increase — often hundreds more per month.

Question 3

Can I get an interest-only loan with W-2 income only?

Accepted Answer

Some lenders allow it, but most non-QM programs target self-employed or investor borrowers. Your profile needs to be strong.

Question 4

Are interest-only loans available in rural Humboldt County?

Accepted Answer

Yes, through wholesale non-QM lenders. Retail banks in rural areas rarely offer these programs.

Question 5

What credit score do I need for an interest-only loan?

Accepted Answer

Most non-QM lenders start at 680. Some will go lower with larger down payments and strong reserves.

Interest-Only Loans in Rio Dell, CA