Yes, interest-only loans exist. The catch is they're non-QM products with higher rates, so the payment relief is smaller than the math first suggests. Because they fall outside the qualified-mortgage box, you won't find them through Fannie Mae, Freddie Mac, FHA, or VA. They come from portfolio lenders, and the higher rate they carry claws back part of the monthly savings you're after. The savings is real, just smaller than "payment minus principal" once the rate difference is priced in. Before deciding, have a lender run the numbers both ways: a standard fully amortizing loan versus the interest-only option, at the actual rate each would carry. Compare the true monthly difference, not the theoretical one. The tradeoff to weigh is the forced savings you give up. Paying down principal converts cash flow into equity automatically, whether you think about it or not. Going interest-only removes that, leaving you dependent on appreciation and your own discipline to save the difference elsewhere. That can make sense in the right situation, for example when the freed-up cash flow is going somewhere with a better return. Just go in clear-eyed that you're trading away one of the core wealth-building pieces of owning.