Interest-Only Loans: Requirements, Rates & How to Apply
Pay only interest for an initial period (typically 5-10 years) before amortizing. Lower initial payments for qualified borrowers.
700
Min Credit Score
20%
Min Down Payment
43%
Max DTI
non-qm
Category
Key Takeaways
- ✓ Minimum credit score requirement: 700.
- ✓ Minimum down payment: 20% of the purchase price.
- ✓ Maximum debt-to-income (DTI) ratio: 43%.
- ✓ Pay only interest for an initial period (typically 5-10 years) before amortizing. Lower initial payments for qualified borrowers.
See Interest-Only Loans Rates by State
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