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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