I am a Home Mortgage Consultant for Wells Fargo I am going to give you advice as a homeowner and mortgage consultant. In all honestly 100% financing interest only is not terrible. 1.) It gets you into the house 2.) It gives an affordable monthly payment and it's not a loan that you have to stay in forever. Just make sure even with the interest only you can afford the payment. Sometimes people get the interest only or 40 year loan and they still can't afford it. Also, check into the 40 year mortgage it's another good option where the loan is amortized over 40 years and your payment is lower. I would talk to your loan officer about all your options and make sure you feel informed. Remember down the road you can refinance and get into a more comfortable loan program. I am here to help so PM me or email at
mo939rg@aol.com. Good luck
