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5 Year Interest Only
Loan Programs
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| If you are searching for a great 5 year interest
only mortgage program, you have come to the right place. Our investors offer a
wide selection of 5/1 ARM interest only mortgage products with a variety of
index, cap, and margin choices. An AAXA Loan Advisor can help you navigate
through the options to find the right choice for your needs. 5 year interest
only loans can be a great fit for borrowers who are looking for short term
stability from interest rate risk while keeping the monthly payments to a
minimum. With these programs, borrowers can make additional principal payments
each month if they wish to pay down their balance, or opt to just pay the
minimum interest-only payment. This feature affords customers the opportunity
to better control how they use their finances on a month-to-month basis.
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Request a 5 year interest only mortgage
rate quote
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Call us toll free at 877-RATE-LOW (877-728-3569) for a
consultation |
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Choosing A 5/1 ARM
Interest Only Loan
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| When it comes to choosing the right 5 year
interest only mortgage program, you are going to want to discuss the following
items with your mortgage professional:
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What are the loan’s caps and margin, and what index is the
loan based upon? How may these variables impact me?
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What is the loan’s APR? Adjustable rate mortgage APRs can be
misleading because they are based upon a hypothetical scenario. Some mortgage
companies may use a “best case” scenario (i.e. your rate staying the same or
even improving after the first five years) while others opt to base their APRs
on the “worst case” (i.e. loan adjusting to the maximum amount after the first
five years and remaining at that rate for the next twenty-five years). You
should just make sure that you are comparing “apples” to “apples”. It is
impossible to compare APRs without the competing companies using the same set
of criteria.
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What will happen to your payments after the first five years? Your loan
professional should help you to determine what your payments may look like
after the interest only period ends and the loan is re-amortized for the
remaining twenty-five year period (paying both principal and interest).
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5 Year ARM Interest Only
Loan Assistance
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| AAXA is proud to offer some of the
lowest mortgage rates in the Nation. Our dedicated staff is ready to
assist you with your all your interest only,
home purchase financing and
mortgage refinancing needs. Give us a call today at 877-RATE-LOW
(877-728-3569) for a free consultation.
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Other Interest Only Loan Options:
Option
ARM Mortgage
100% Interest only loans
30 year mortgage interest only
3 year interest only loan
10 year and 7 year interest only mortgages
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