Question 1

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

Accepted Answer

Most Non-QM lenders require 700 or above. Some programs go lower with a larger down payment.

Question 2

Can I use an interest-only loan on a rental property?

Accepted Answer

Yes. IO loans are common for investment properties. A DSCR loan may also qualify you without showing personal income.

Question 3

What happens when the interest-only period ends?

Accepted Answer

Payments reset to cover principal and interest on the remaining balance. That increase can be substantial — plan ahead.

Question 4

Are interest-only loans available for agricultural land in Madera County?

Accepted Answer

Some Non-QM lenders will lend on mixed-use or rural parcels. Eligibility depends heavily on the specific property and lender guidelines.

Question 5

How long is the interest-only period?

Accepted Answer

Typically 5 to 10 years, depending on the lender and program. After that, the loan amortizes fully.

Question 6

Is an interest-only loan harder to get than a conventional loan?

Accepted Answer

Yes. Non-QM underwriting is manual and lender-specific. Reserves, down payment, and credit requirements are all stricter.

Interest-Only Loans in Chowchilla, CA