Interest Only Loans Rates
Contents Initial rate holds Term. repayment mortgages Home refinance rates 15 year fixed Fixed mortgage. index Showing encouraging prints On an ARM with a very low rate, the interest-only period is always longer than the initial rate period. A common ARM today has an interest-only option for 10 years, but the initial rate holds only for 6 months. On a $100,000 loan with an initial rate of 4%, the interest-only payment is $333. If you already have a mortgage and want to refinance for a different interest rate or shorter…
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