40 year interest-only loans are very popular options! Realtors and Borrowers, email Stanley@loansuperstore.com for more information.
We just obtained an approval for a $2.8 million cash-out refinance on a $10million home. Advantage was that the loan was underwritten on a 30 year term which resulted in the borrower qualifying for a higher loan amount.
Also obtaining a $1.1million dollar cash-out loan on a duplex near the beach in San Diego. Rate should be near 4.625% interest-only for 10 years before it converts to a 30 year variable.