Aren't monthly interest payments required?

interest is part of the Principal & Interest portion of your payment. So yes, its part of your payment

Please be more specific.. all conforming loan options requires a minimum payment (except reverse mortgages) which includes principal and interest.. Depending on your loan choices, you payment might also include taxes, insurance, mortgage insurance, and/or assessments. However, FHA backed reverse mortgages do not require any payments at all.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893