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5
Year Jumbo Interest Only ARM Programs
If you are searching for a non-conforming
jumbo loan that can offer you the lowest
monthly payment for a short period of time,
then a 5/1 jumbo IO ARM may be up your alley.
With a 5 year jumbo interest only ARM,
your rate will be be fixed for the first
60 months of the loan and only the interest
portion of the monthly payment will be due.
After that introductory period ends, the
note rate will go up or down according to
the index that the loan is based upon and
defined by the loan's caps and margin. Confused
yet? Let the mortgage providers listed in
the survey at the top of the page explain
the "in's and out's" of 5 year
jumbo interest only ARM programs. Please
not that SureHits, the company that organizes
the survey, does not collect rates for this
product. You will have to speak with the
various companies to gather more information.
Best of luck! Be sure to ask whether or
not interest only loans are legal in your
state.
Details
on 5/1 Jumbo IO ARM Products
- Fixed rate introductory period of 60
months. After that time passes, the rate
will adjust up or down - ask your loan
professional for more information.
- Interest only payment typically only
available for first 60 months. With many
of these products the repayment of the
principal and remaining interest is then
factored into the last 25 years of the
loan. Ask your broker or lender for specifics.
Other Jumbo Mortgage Programs to Consider:
30
year jumbo mortgages
30
year jumbo interest only loans
15
year jumbo mortgages
10
year jumbo ARM
7
year jumbo ARM
7/1
jumbo IO ARM
5
year jumbo ARM
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Mortgage & Insurance Research
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Find other lenders and brokers offering
5 year jumbo interest only adjustable rate
mortgages:
American Financial Resources (AFR)
provides mortgage
refinancing and home purchase loans
throught much of the Country. Request current
rates online in seconds using the online
mortgage rate quote tool or simply call
them toll-free at 800-316-9508 for
more information.
Gateway Bank
Mortgage, Inc. provides 5/1 jumbo
IO ARM products along the Eastern Seaboard
from Maryland down to Florida. To learn
more about their mortgage products, call
877-728-3569.
Thank you for researching rates and home
loans on BurlingtonMortgage.biz.
If you are a mortgage company and would
like to be featured on this site, please
call 910-547-6910 for more information.
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