If you’re on the market for a high-priced home, consider an interest only jumbo loan. Interest only jumbo loans are an excellent option for individuals seeking a little bit more home for their investment. With an interest only jumbo mortgage from MortgageBase, you’ll be able to attain a large home through a mortgage that offers numerous benefits:
More Home for Your Loan
With an interest only jumbo loan, your mortgage will provide you with the funds to cover an expensive home purchase. Utilize a MortgageBase interest only jumbo loan to obtain a home loan of $417,000 or more. Since conforming home loans may only be attained for amounts less than $417,000, you’ll have to opt for a jumbo loan if you need further funds to purchase a more expensive home.
More Flexibility with Your Money
Procuring an interest only jumbo loan will give you financial freedom to place financial investments as you’d like. Feel free to invest your extra funds in a high rate of return investment, and get the most out of your finances.
Low Upfront Monthly Payments
During the initial interest-only payment period, your monthly payments will be rather low. Since you’re only required to pay the interest on your mortgage during this initial period, you’ll have further financial freedom to spend your income as you’d like. You may also begin to pay down the premium on your jumbo mortgage loan.
In essence, an interest only jumbo mortgage is ideal for individuals who desire a more expensive home, those who need more flexibility with their finances, and those who’re looking to minimize the initial monthly payments on their home loan. If you’re further curious about interest only jumbo mortgages through MortgageBase, feel free to browse through our Interest Only Jumbo Mortgage Loan Page.