Flexible Payment
Flexible Payment
A type of mortgage with a flexible payment is an interest only home loan. In this arrangement, the borrower is only required to pay the interest each month; any additional payment toward the principal balance is up to the borrower. Borrowers chose this type of mortgage to free up monthly expense to allow budget allowances for retirement, home improvements, or education.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed | 4.39 |
| 5/1 ARM | 3.69 |
Rates may contain points
