Interest-Only Adjustable Rate Mortgage
Ditech's Interest-Only Conforming adjustable rates mortgage products have attractive low interest rates which give you the financial freedom of having extra disposable income, purchase buying power, or lower monthly payments.
- Our Interest-Only Conforming adjustable rate mortgage products offer interest-only mortgage payments for fixed rate periods of 3, 5, 7 or 10 years (depending on the product selection). After the fixed rate period you pay principal and interest for the remainder of the term. At the end of the Interest-Only term you can refinance, pay the balance in full, or commence paying off the principal and interest.
- Interest-Only Conforming adjustable mortgage products are available on Purchase and Refinance loan transactions.
- There are no Pre-Payment Penalties.
- Loan to value (LTV) ratios up to 95%.
- Qualification Ratios are based on Interest-Only payment plus taxes and insurance.
*Rates may vary by state. Rate subject to change without notice. Rate is fixed for the first 3, 5, 7 or 10 years after that rate may vary. Available for primary residence and second homes only. Subject to underwriting approval. Not all applicants will be approved. Full documentation & property insurance required. Loan secured by a lien against your property. Some restrictions apply. Fees, terms & conditions apply. Call the number above for details.