Here at MortgageBase, we’re proud to offer competitive mortgage products with great rates, including our interest only jumbo and super jumbo mortgages. Like all of our home loans, these loan options are designed to connect you with the house of your dreams – yet our interest only jumbo and super jumbo loans are unique in that they provide huge buying power, while also offering you the financial freedom that you demand upfront.
Jumbo and super jumbo mortgage loans are just that, jumbo. These larger loans are ideal for purchasing more valuable property, yet they work similarly to traditional loans. Jumbo loans can range anywhere from $417,000 up. We offer super jumbo loans up to $3,000,000 in value – now that’s buying power!
Now, let’s say that you’ve eyed your dream home – it’s near the beach, has a hot tub, massive deck, 3-car garage, lofted ceilings, a stone hearth, a spacious master bedroom… you get the picture – and it happens to cost $1,000,000. You couldn’t be more ecstatic to make a purchase; however, the abode seems a bit out of your price range – let’s say you’ll have to borrow $800,000 to close on the home. Well, with an interest only jumbo mortgage, it’s entirely possible to nab your dream home. If investing $200,000 as a down payment stretches your finances thin, don’t worry – these loans also provide financial freedom upfront…
Financial Freedom Upfront
With our interest only jumbo and super jumbo mortgages, you can pay what you please during the interest only period. For instance, with our 10/1 ARM interest only mortgage, you will only be required to pay the interest of the mortgage. If you’d like, you can also pay down the value of the loan throughout the initial 10 year period. That’s good news for folks who need a bit more flexibility upfront. Once you’re well established in your new home, and the initial interest only period has subsided, you can expect the to pay amortized payments for the remaining term of the loan (only during this period of the loan will you be required to pay down the value of the home). In effect, you’ll have the full initial interest-only period to pay your loan down to a position at which you’re comfortable. On top of interest, you can pay as little or as much as you’d like. You can pay down an interest only loan quickly and build equity in your home, or, if you prefer, you can allocate your funds elsewhere throughout the interest only period. That’s the very definition of financial freedom.
MortgageBase’s Interest Only Jumbo and Super Jumbo Home Loans
In short, these loans are versatile, and they provide a homebuyer with the flexibility needed to connect with the home of their dreams. For that very reason, we’re happy to offer up interest only jumbo and super jumbo loans. You can see our current featured interest only jumbo and super jumbo mortgages, take a look at our full catalog of mortgage products, or get a custom home loan quote.