Question 1

Can I get an interest-only loan in rural Siskiyou County?

Accepted Answer

Yes, but not through a local bank. You need a wholesale non-QM lender. We have access to several that lend in rural California.

Question 2

What happens when the interest-only period ends?

Accepted Answer

Payments increase — sometimes significantly. You start repaying principal over the remaining loan term, which shortens your amortization window.

Question 3

Is this a good option for buying farmland near Dorris?

Accepted Answer

It can be, depending on your cash flow strategy. Run the numbers on what happens when the rate resets before you commit.

Question 4

What credit score do I need?

Accepted Answer

Most non-QM lenders require 680 or higher for interest-only. Some go lower with a larger down payment and strong reserves.

Question 5

How is this different from an ARM?

Accepted Answer

An ARM adjusts your rate but still requires full principal and interest payments. Interest-only defers principal entirely during the initial period.

Interest-Only Loans in Dorris, CA