A flexible mortgage or flex mortgage allows you to vary your monthly payments to your lender by either over-paying or under-paying.  The advantage of a flexible mortgage is if you have extra money you can apply it toward your mortgage or hold a payment if finances deem it necessary.  In exchange for this mortgage flexibility the lender will charge you more interest.

 
Typically, flexible mortgages require little or no down payment which is an additional feature that attract consumers.  Flexible mortgage loans are also ideal for those with non-verifiable income, high debt/income ratios, low incomes, or poor credit.  With a flexible payment mortgage you can always be prepared for the unexpected.  Or if you are thinking about buying your first home but are concerned about the large house payments, we can help.  Compare free quotes today!