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3 Year ARM Interest Only Loans
Please note that the survey below does not display
rates for 3 year interest only ARM products but some
of the featured companies likely do offer a 3 year
IO product. Please contact them directly for details.
There
are a number of lenders, brokers, and banks in the
country that offer highly competitive 3 year adjustable
rate interest only mortgage programs. Typically, three
year interest only loans are offered with a slightly
lower rate than 5 year, 7 year and 30 year interest
only products. Because the loans are only fixed for
the first three years, these loans carry a higher
risk level than longer term fixed options. Be sure
to discuss the pros and cons of these products with
a loan advisor.
Contact the companies for 3 year interest only mortgage
program information:
1. Call them directly using the phone numbers listed
in the survey.
2. Visit their web sites for information about their
companies and loan products.
Potential Benefits of 3 Year Interest Only Mortgage
Programs:
- Low rate fixed for the first three years of the
loan.
- Reduced monthly payments due to interest only
payment option.
- Flexibility to add principle payment when extra
cash-flow is available.
- Possibly a good solution for people who only plan
to be in a home for three to five years.
- May be a good fit for those who need to have the
lower payment in order to afford a home and who
expect their income to increase in the next few
years.
- Allows customers to minimize monthly housing expenses
and provides cash-flow flexibility.
Why use ForTheBestRate.com to research your next
3/1 ARM Interest Only Mortgage
ForTheBestRate.com is an industry leader in helping
people connect with mortgage companies that may help
them lower the cost of their home financing. Contact
several of the lenders listed throughout this site
and determine whether a 3 year interest only loan
is right for you. Not all 3 year interest only mortgage
programs are created equal and guidelines vary from
lender to lender. Whether you have excellent credit
or less than perfect credit, they may be able to help
you find the perfect fit for you and your family.
Other Interest
Only Mortgage Programs:
10
and 7 year interest only mortgage loans
5
year interest only mortgages
30
year interest only loans
