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Interest Only Second Mortgages
Nationwide Mortgage Loans offers interest only second mortgage loans with prime interest rates and fixed rate conversions that are perfect for funding home improvement projects because the loan terms offer flexibility that consumer need.
We have numerous equity loan products that are designed to help self employed borrowers secure an affordable second mortgage that works with common cash flow issues. The most popular home equity loan in 2007 for business owners is the interest only second mortgage that features a flexible revolving credit line with the ability to fix used portions of the credit line.
Our focus remains with home equity lending as we continue to offer competitive rates for refinance and home equity line of credit for homeowners seeking low monthly payments and prime rates.
- 3-Year Interest only (3/1 ARM)
- 5-Year Interest only (5/1 ARM)
- 7-Year Interest only (7/1 ARM)
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Nationwide Mortgage Loans is a premier mortgage broker who specializes in all types of 2nd mortgages. |
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Consider taking out a low rate interest only second and keep the loan funds available for future home construction, or cash out your home equity for home improvements, debt consolidation or making real estate investments.
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Mortgage Lenders Are Promoting Low Monthly Payments |
 Mortgage loan analysts say brokers, banks, and homebuilders have shifted their pitch from "interest rate" to "low monthly payments." They aren't promoting "No Closing Costs" as much either.
In the past year, for example, the lending community has been pushing negative-amortization products. According to The Wall Street Journal, "legitimate financing options that has been available for some time, observers warn that many unsophisticated consumers may not truly comprehend the risks they are assuming and the possible consequences they face. "
Terri Cullen writes about the exotic payment option arm's: She says, "case of negative-amortization loans, those consequences include a principal balance that increases rather than decreases and a spike in the borrower's monthly obligation once the fixed period of low payments expires." |
 Interest only payments offer a reduced minimum payment that can help increase your cash flow. Lower your payments and enjoy the flexibility of an interest only second mortgage. Most interest only 2nd mortgages are open-end credit lines, otherwise known as "Home Equity Lines of Credit."
| All home equity & refinancing loan programs are subject to credit, lender and underwriter approval. Mortgage refinancing terms and conditions are subject to change without notice. For our 3/1, 5/1, 7/1 and 10/1 Interest Only Adjustable Rate Mortgage (ARM) Programs, the intro period is the mortgage interest rate is fixed for the first 3, 5, 7, and 10 years. After the fixed rate period, the mortgage rates can adjust every 6 months thereafter. Not all refinance loans are available in all states. Other restrictions and limitations apply. |
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