Interest Only Jumbo Mortgages

jumbo interest-only arm Our Jumbo Interest-Only ARM is ideal for homebuyers who prefer a lower monthly payment during their first years of their loan. Buyers who plan to sell a property after a short period of ownership may also benefit from interest-only financing.

As the name suggests, jumbo loans are big mortgages. They are.. Use an interest-only loan at 3 percent, and the payment plunges to $2,000.

Interest only jumbo mortgages are limited to adjustable rate mortgage (ARM) programs and can be fixed for a full 5, 7, or 10 years. This interest only period is generally 10 years after which time your payment reverts to a principal and interest payment amortized over the remaining term of the loan.

A 30 year jumbo interest only mortgage may accomplish just that. With this program, a borrower can make interest only payments for the first ten years to fifteen years of the loan before having to payback any principal.

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Interest-Only Mortgages: Good Fit for Certain Borrowers An interest-only mortgage offers a lower monthly payment and is best suited for people with ample assets, good credit and a short-term. JUMBO INTEREST-ONLY ARM. Our Jumbo Interest-Only ARM is ideal for homebuyers who prefer a lower monthly payment during their first years of their loan.

Interest-only jumbo ARM loans are popular with certain borrowers because they can lower the monthly mortgage payment during the first few years. For some people, this is a higher priority than building equity in the home. Additionally, a New Jersey interest-only mortgage product could allow you to divert income to other sources, such as investments.

For the sake of this article, we’ll speak specifically about conforming conventional mortgages, not jumbo loans. Conventional.

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Jumbo Adjustable-Rate Mortgage Loans 5-Year Adjustable-Rate Mortgage–Fully Amortizing and Interest-Only Adjustable-Rate Mortgages. OneWest offers adjustable-rate mortgages with 30 year loan terms and initial fixed-rate periods of 5, 7 or 10 years.

Interest-only loans-a villain in the subprime mortgage crisis-have made a comeback. But expect tighter qualification standards this time.

View daily mortgage and refinance interest rates for a variety of mortgage products, and learn how we can help you reach your home financing goals.. Jumbo Loans – Amounts that exceed conforming loan limits:. Wells Fargo Home Mortgage is a division of wells fargo bank, N.A.