Pay Interest Only for More Flexibility

Buyers with an interest-only mortgage can expect significantly lower payments during the initial phase of the loan, and higher payments during the final period. These loans may be a good choice for borrowers with fluctuating or rising income, allowing them to make interest-only payments when funds are tight and more substantial payments to principal when their income rises.

Loan Features

  • 20% Down Payment Required

    All Navy Federal interest-only mortgage loans require a 20% down payment.

  • Various Adjustable-rate
    Options Available

    During the initial term of your loan, your interest rate and monthly payment will be lower. Later, your rate and monthly payment will increase, since you will now be making payments toward your principal as well as interest.

  • Refinance Options Available

    If you already have a mortgage and want to refinance for a different interest rate or shorter term, this loan may also
    be a good fit.

To get rates for our interest-only mortgages, call 1-888-842-6328 today.

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Why Choose Navy Federal?

Great loans. Expert guidance. Best-in-class loan service. As a Navy Federal member, you get access to additional benefits to help save you time and money. Get your loan, real estate agent, title services and loan servicing all through us.

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Find a Real Estate Agent

Use RealtyPlus® to get matched with a top-performing real estate agent in your area and earn cash back, too. Exclusive for Navy Federal members.1

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Mortgage Learning Center

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Homeowner Resources

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Disclosures

1 The cash-back bonus is offered in most states and is available for individual sales and purchases of property; offer limited to one cash-back bonus per property with no limit on the amount of times you may use the program. In some states, a gift card or commission credit at closing may be provided in lieu of the cash-back bonus. The program is not available in IA or outside the U.S. Cash-back bonus is not available in AK, LA or OK. In KS and TN, a gift card with preloaded points that are ready for spending at specified retail establishments after closing will be issued. State regulations in KS limit the dollar amounts and the type of incentive. In MS, NJ, and OR, a commission reduction may be available at closing. Please check with the program coordinator for details. This is not a solicitation if you are already represented by a real estate broker. The cash-back bonus is only available with the purchase or sale of your home through the use of a program-referred and -approved real estate agent. The size of your cash back award depends on the value of the property you are buying or selling. Obtaining the full $8,000 cash back award requires transacting in a property valued at $1.75 million or greater. To calculate the size of you potential cash back, please visit navyfederal.org/realtyplus. All real estate transactions are negotiable. Contact RealtyPlus for terms and conditions. Standard listing fees apply.