**As of 12/3/2021, this product is based on a rate and term refinance loan with 70% loan to value ratio, a 740 credit score, paying 1.25% discount points, on an owner-occupied principal residence, an interest rate of 3.77% and APR of 3.87% for a 40-year loan with an interest only period for the first ten years and fully amortized payments for the remaining 30 years of the 40-year term. Your loan terms and interest rate may be different depending on your credit score, your loan to value ratio, how many discount points you pay, when you lock in your interest rate, the property’s occupancy type, and other factors.
Did you know 40-year mortgage solutions are standard issue at Sprout Mortgage? Created with real estate investors in mind, Sprout Mortgage’s 40-year mortgage options begin with 10 years of interest only financing, with the balance of the loan repaid over 30 years of amortizing payments at a fixed interest rate.
· lower monthly interest-only payments in the first 10 years
· A fixed interest rate for the life of the loan, 40 years to repay the loan This loan product allows investors cash flow advantages as they can purchase rental properties at today’s prices, secure a historically low fixed rate, and benefit from a low interest only mortgage payment in the first ten years of ownership.
Ask a Sprout Mortgage Loan Advisor about 40-year mortgage options on investment properties
Rising real estate values and increasing interest rates suggest that now could be the right time to secure a 40-year mortgage. Starting with 10 years of interest only payment opens windows of opportunity for new and seasoned investors to purchase rentals, mixed use, vacation investment properties, multifamily properties, and condotels.
Call us (800) 462-6470
or fill out the form below
Sprout Mortgage is a nationwide direct lender and we’ve been helping homeowners reach their goals for nearly a decade.
Whether you’re a small business owner, yoga instructor, seasonal employee, freelancer/contract employee, or investor, Sprout can help you get a mortgage!
This communication does not constitute a commitment to lend or the guarantee of a specified interest rate. All loan programs and availability of cash proceeds are subject to credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply.