When it comes to picking out the right mortgage for your needs, it can feel like the options are overwhelming and numerous. The good news is that with Mortgage Base, you never have to feel uncertain o…Read More
Interest Only Jumbo Mortgage Loans
New Product – Interest Only 30 Year Fixed Rate!
Request a quote for your transaction.
Interest Only for 10 years and then a 20 year amortized repayment term. The rate remains the same throughout the 30 year period. Call 970-690-3845 for details.
Interest only mortgages are a great tool for sophisticated clients wanting cash management benefits. You can make interest-only payments on your home loan throughout the year, then if you receive a large lump sum in income and desire to pay off the balance you can at any time, and the new payments will reflect this new balance.
The interest only period is limited to 10 years after which time your payment reverts to a principal and interest payment amortized over the remaining term of the loan. This can result in a large jump in payment since not only are you also paying principal, but the remaining loan term will likely only be 20 years.
We also offer interest only super jumbo mortgages – home loans that exceed $750,000 – as well as interest only jumbo mortgages.
Curious about an interest only jumbo mortgage loan? Feel free to request a jumbo rate quote. And as always, you can reach out to your loan experts here at MortgageBase if you’re curious about the products and services we offer. We’ll field your questions, and make sure you’re well-educated and comfortable with your next loan decision. Also, check out information on our 15, 20, and 30 year fixed rate jumbo mortgages, and our fixed term jumbo adjustable rate mortgages (ARMs).