How It Works

Learn more about interest only mortgage rates here. We'll explain what interest-only mortgages are and how our quotation process works.

Interest Only Mortgage Rates Explained

Interest only mortgage rates are the interest rates you will pay on an interest-only mortgage loan. Interest only mortgages have required monthly payments that consist solely of interest. Most interest only mortgage rates reflect adjustable-rate mortgages, or ARMs. Commonly, the interest-only period of the mortgage only lasts for a certain period of time, usually from five to ten years. During the interest-only period, you can pay just the interest each month or you can choose to pay more. When this period ends, your loan will have the full balance of what you borrowed if you have only made interest payments during this time. After the initial period, you must pay the full payment, principal and interest, each month. Remember that interest only mortgage rates are lower than other types of mortgage rates because they are usually affiliated with adjustable-rate mortgages. This type of mortgage will save you money initially, but it is not always the wisest investment in the long run.

Signing up to View Interest Only Mortgage Rates

You can sign up to view interest only mortgage rates from four different lenders for free on our site. We partner with over 200 lenders to bring you the most competitive interest only mortgage rates online. Here is how the sign-up process works:

1. Complete the online sign-up form. Before you receive interest only mortgage rates, you will need to complete our brief, online sign-up form. The form will ask for your name, email address, phone number, and other basic contact information. Our form is free to fill out and comes with no obligation.
2. We supply you with interest only mortgage rates. Upon receiving your sign-up form, we will instantly supply you with interest only mortgage rates from at least four different lenders. You will see these rates side-by-side to help you compare loans easily and quickly. We also present your interest only mortgage rates in terms that you can understand to help you compare apples-to-apples.
3. Apply for a loan on a lender's site or save the quotes and return later. If you see a mortgage that meets your needs after you look at interest only mortgage rates, you can then apply for that loan on the lender's website. If you need more time to think it over, we also allow you to save your quotes and return to our site at your convenience. Discover the benefits of interest only mortgages on the next page.