Initial Interest Fixed Rate Mortgages

A fixed-rate mortgage with interest only payments for an initial period.

The initial interest mortgage affords you the flexibility with your financial resources.  These loans feature interest only monthly payments for a significant period of time.  Initial Interest Fixed-Rate Mortgages allow you to channel initial monthly payment savings toward other investment opportunities.  Plus, you can make principal payments to reduce your monthly payments and start building equity any time.

We offer these Initial Fixed-Rate Mortgage options for one-unit primary residences and second homes:

  • Initial Interest 10/20 Fixed-Rate Mortgage – a 30 year fixed rate with a 10 year interest only period followed by a 20 year fully amortizing period.
  • Initial Interest 15/15 Fixed-Rate Mortgage – a 30 year fixed rate mortgage with a 15 year interest only period followed by a 15 year fully amortizing period.
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