Interest only loan
Interest only loan
Initially the borrower pays only the interest on the mortgage over a fixed term in monthly installments. At the end of the interest-only pay period, the unpaid balance of the loan for the principal and any additional interest is then paid off in either a lump sum or in installments.
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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
