5 Year Fixed Rate Interest Only (5/1 ARM)
Nationwide Mortgage Loans offers various fixed rate loan programs, but the 5/1 interest only has become one of the most popular home loan program of all time. The 5/1 ARM offers a reduced payment with only interest due for the draw period of the loan. The introductory mortgage rate is fixed for the first five years of the loan. After that, the mortgage rate becomes adjustable for the remaining term. The interest rate will be adjusted and calculated on the origin of the average yield on U.S. Treasury securities adjusted to a constant maturity of one year, plus an additional fixed margin. Nationwide offers home equity, second mortgage and refinance loans with a fixed or adjustable interest rates.
With the 5 year fixed rate interest only, you can benefit from a lower rate than the traditional 30 year fixed rate for the 1st 5 years of the loan. Top loan experts believe that it is important for borrowers to be confident when taking a loan on against your home. 5 years of a fixed rate with the ability to conserve cash flow with low interest only payments for the first ten years.
Finance Tips and Loan Advice
Lower monthly payment for 5 years can save you thousands of dollars. During the adjustable period, the interest rates can be lowered if the market trend improves.
Lower payments increase purchase power.
Mortgage Rates could be higher when the adjustable period kicks in.
Monthly payments can increase significantly.
- Refinance for Cash Out
- Interest Only
- Low Rate Second Mortgages
- Debt Consolidation of High Rate Credit
- Home Equity Lines
$375,000 5 Year Fixed at 5.75%
60 Interest Only Payments = $1,835.94
Don't wait any longer, Call 1-877-212-9478 to speak with a seasoned loan professional live. We offer a helpful consultation that includes a free loan quotes with no obligation.
ARM vs. Fixed Rate Calculator
How does a fixed rate 1st or 2nd mortgage compare to an adjustable rate mortgage or home equity line of credit?