Best of
4 Best Interest-Only Mortgage Lenders of 2020
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.
An interest-only mortgage is a niche product that can be difficult to find these days. See NerdWallet's picks for some of the best interest-only mortgage lenders in 2020.
An interest-only mortgage can be hard to find these days. It is a niche product, best suited for borrowers with strong cash flow and good credit and often for home buyers looking for a short-term loan — typically from five to seven years.
Many interest-only mortgages are also jumbo loans, for higher-priced properties that don't meet conventional loan standards.
NerdWallet has picked some of the best mortgage lenders for people seeking interest-only mortgages to help you find the one that's right for your needs.
An interest-only mortgage can be hard to find these days. It is a niche product, best suited for borrowers with strong cash flow and good credit and often for home buyers looking for a short-term loan — typically from five to seven years.
Many interest-only mortgages are also jumbo loans, for higher-priced properties that don't meet conventional loan standards.
NerdWallet has picked some of the best mortgage lenders for people seeking interest-only mortgages to help you find the one that's right for your needs.
Summary of Best Interest-Only Mortgage Lenders of 2020
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Guaranteed Rate: NMLS#2611 | Best for online experience | 620 | 3% | Read review |
 New American Funding: NMLS#6606 at New American | Best for face-to-face service | 700 | 3% | at New American |
 Wintrust Mortgage: NMLS#449042 | Best for jumbo loans | 620 | 3% | Read review |
 HomeBridge: NMLS#6521 | Best for jumbo loans | 620 | 3% | Read review |
Guaranteed Rate: NMLS#2611
Min. Credit Score
Min. Down Payment
at New American
New American Funding: NMLS#6606
Min. Credit Score
Min. Down Payment
National / Regional
at New American
Wintrust Mortgage: NMLS#449042
Min. Credit Score
Min. Down Payment
HomeBridge: NMLS#6521
Min. Credit Score
Min. Down Payment
Last updated on September 3, 2020
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.To recap our selections...
NerdWallet's Best Interest-Only Mortgage Lenders of 2020
- Guaranteed Rate: Best for online experience
- New American Funding: Best for face-to-face service
- Wintrust Mortgage: Best for jumbo loans
- HomeBridge: Best for jumbo loans
