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10-year, interest only mortgage

I'm looking for a 10-year, interest only mortgage, which is what I currently have, only at a better rate. Can you tell me what companies offer that product and what the interest rates are?Thanks,Sharon by Sharon Billings from San Diego, California. Mar 16th 2012 Reply


Terry Blete (tblete_159_755)
#585 ranked lender in California - 5 contributions

You will need to let us know what the loan amount is, the current market value and FICO score to give you an accurate quote. You can contact us at www.greaterbaymortgage.com or 1-800-890-1500. We have several lenders that offer this product.

Mar 16th 2012
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,707 contributions

Contact a local broker, not a bank... the Broker has access to numerous lenders and can find the right loan product for your particualr scenario.. they will most likely have lower fees, and lower rates.. as far as a 10Y I/O loan... they are available but the rates are not that great, and with most lenders it actually costs to do the loan rather then the lender paying your costs... WilliamAcres.com

Mar 16th 2012
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Jedd Nabonsal (jeddnabonsal)
#519 ranked lender in California - 27 contributions

Sharon,Please call me directly on my cell # 310-433-1703 to discuss your situation.I have access to over 20 lenders to broker to.They all have a 10 yr. fixed, and most of them will offer interest only for a premium.One lender will go up to 3 million on a 10 year interest only at 4.25% for no points.One lender will give you 3.125% principal and interest up to a million for no points if you allow them to automatically deduct the mortgage payment each month from your bank account.Obviously I will need to know more particulars about your present situation.Please call me. I have over 20 years experience, multiple lending sources, and I work for no points at super low rates.Jedd NabonsalPinnacle BancorpMortgage Broker

Mar 16th 2012
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Blake Kleckner (BlakeK)
#388 ranked lender in California - 257 contributions

Hi Sharon: We work with 39 lenders including numerous major banks. Many of them offer 10-year loans. However, without having some additional info from you quoting an interest rate is impossible. What I can tell you is that today for a single family residence it is ranging from 2.75% to 3.75% for a maximum loan amount of $417,000 depending upon a variety of factors, and how much of the loan costs you are willing to pay. If your loan will be $417,001 to $564,250, the interest rate will be higher, and if it's over $564,250 it will increase more. For me to give you an accurate quote requires us having a 5 minute conversation. Give me a call 16/7 and I'll be happy to discuss your options with you. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs.

Mar 16th 2012
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Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,823 contributions

This product is available, but the terms are going to vary depending on How much you owe, the value of the home, your credit scores and even your debt to income ratios. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Mar 16th 2012
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