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We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers. We’ve picked at least two lenders in several "best of" categories to help you find a lender that meets 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.
Best online interest-only mortgage lenders
These lenders are online experts, offering the latest technology to complete the mortgage process quickly and efficiently.
- Offers loans in 29 states and Washington, D.C.
- No application, origination or other lender fees
- Pre-qualify online in “just two minutes”
- SoFi Mortgage review
- Claims a 95% customer satisfaction rate
- Also has branches across all 50 states for in-person service
- Licensed in all 50 states and Washington, D.C.
- Guaranteed Rate Mortgage review
Best interest-only mortgage lenders for borrowers seeking face-to-face service
These lenders are known for providing outstanding customer service, with convenient locations in many parts of the nation.
- Interest-only terms typically from 5 to 10 years
- Interest-only loan can feature a fixed or adjustable rate
- Has branch locations in nearly half of U.S. states
- New American Funding review
- Interest-only loans available with fixed or adjustable rates
- Interest-only fixed rates remain the same for the first 10 years
- Requires an affiliation with the armed forces or Department of Defense, or membership of a relative
- Navy Federal Mortgage review
Best interest-only mortgage lenders for jumbo loans
These lenders are well-suited to serve borrowers looking for interest-only jumbo loans for higher-priced properties.
- Lends in all 50 states and has several hundred local offices
- Offers interest-only mortgages on jumbo loans
- Offers a credit checklist and profile service to potential home buyers
- Wintrust Mortgage review
- Offers interest-only loans, typically between 5 and 7 years
- Offers a Home Fixer escrow program so minor required home repairs can be completed after closing
- Licensed in all 50 states; branch locations in more than half of U.S. states
- HomeBridge Financial Services review
Summary: Best interest-only mortgage lenders
- Best for online experience: SoFi
- Best for online experience: Guaranteed Rate
- Best for face-to-face service: New American Funding
- Best for face-to-face service: Navy Federal Credit Union
- Best for jumbo loans: Wintrust Mortgage
- Best for jumbo loans: HomeBridge Financial Services
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