Interest-only Fixed Rate and Adjustable Rate Mortgages, including Jumbos

• For primary residences and second homes.
• Delay repayment of principal for 10 years, giving you the opportunity to use these funds for further investments.
• Take advantage of future income growth to purchase a bigger home now.
• May provide significant savings if you are planning to re-sell your home at the end of the interest-only period.
• Pay interest-only for the first 10 years on all products.
• Rates may adjust after the initial fixed rate period (3, 5, 7 or 10 years) on interest-only Adjustable Rate Mortgages, however principal payments will not be required until the eleventh year.
• An increase in interest rates on interest-only Adjustable Rate Mortgages can also lead to higher monthly payments in the future.
• At the end of the initial 10 years, loans amortize for the remaining term to include principal and interest. As a result, payments will increase.

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