Some of the market’s most common nontraditional mortgages include balloon mortgage loans, interest-only mortgages and payment option adjustable rate mortgages (ARMs). Balloon payment and interest-only.
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Current interest only mortgage rates and costs for leading lenders. Compare rates based on interest only period and other factors to save money on your loan.
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For instance, if you want a mortgage for 75,000 on a 100,000 house, the lender may only allow 50% of the value of the home to be lent on an interest-only basis.
Interest Only Mortgage Loans | Navy Federal Credit Union – Rates 1 Rates as of: April 4, 2019. Interest-only mortgages are available as both fixed and adjustable rate. Interest-only fixed-rate loan payments remain the same for the first 10 years, and then adjust to include principle.
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