5 Year Interest Only

Cut your mortgage costs to the bone and use the extra cash to make your life better in all kinds of ways.

Five whole years of lower housing payments? Our special mortgage deal can be a financial game-changer.

  • Get a low-cost loan and just make interest payments for the first five years
  • By controlling your household cash flow, you can spend your money on other priorities
  • Ideal option for second homes and investment properties in North Texas and elsewhere

Questions? We can help.

Monday - Friday 9AM - 6PM
and Saturday 10AM - 2PM CST

Talk to an Account Specialist

Get a personalized consultation.

Exclusive Benefits Include

Low Rates

Reduce your long-term interest payments with our affordable fixed-rate loans.

Get Prequalified*

With one quick phone call, you can find out how much you can afford. That makes your house-hunting less complicated.

Apply Online

Our lending team will help you through the application process. Our digital tools allow you to handle most of your paperwork electronically.

Preferred Realtor Program

Work with one of our preferred professionals and you'll get cash back to reduce your closing costs.

Investment Properties

This loan is an excellent choice when adding to your real estate portfolio or refinancing those mortgages.

North Texas Experts

We know the local market like nobody else, and we've been a trusted lender here since the 1930s.

The right mortgage is the key to good living.

You May Also Be Interested In

A mother, father, daughter and son sitting together on a couch, all smiling and laughing.

Fifteen, twenty, & thirty year mortgages

Learn More

Advantages & Disadvantages of Fixed Rate Mortgages

Learn More

A scale with a house on the left side and a few stacks of coins on the right side.

Use Our Online Mortgage Comparison Calculator

Learn More

A person pushing a button on a calculator and holding a small model of a house in the other hand.

Use Our Online Mortgage Payoff Calculator

Learn More

*Information and interactive calculators are made available to you as self-help tools for your independent use. We do not guarantee the accuracy of the calculators or their applicability to your circumstances. You may contact us so that we may provide you with even more details and information about our products.

Get a good look at where you are and where you're going next.

Financial Calculators 

5 Year Interest Only Mortgage FAQs

For our traditional mortgages, you'll need the standard 20% down payment. But your situation might be different. To know for certain, it's best to connect with our mortgage lending team so we can help you find the right home loan for your situation.
A good rule of thumb is to have a mortgage payment that's no more than 28% of your income. Keep in mind, lenders also look at your debt-to-income ratio. If you add up your monthly debts—student loans, credit cards, auto loan payments, etc.—and divide them by your gross monthly income, you'll know your debt-to-income ratio. Most lenders look for a ratio of 36% or less.

Along with the down payment and monthly payment, you have:

  • Closing costs, which may be between 1% and 5% of the loan
  • Property taxes
  • Home insurance
  • Mortgage insurance, when the down payment is less than 20%

Plus, as a homeowner, you’re responsible for upkeep and maintenance, so it’s a good idea to have extra money budgeted for those expenses.

Come and see us! A visit with one of our mortgage lending specialists will lead to you getting pre-qualified for a loan. Our mortgage lending team can find out what loan amount you may qualify for and help you pick the best type of loan for the home you hope to buy. They can also help you create a strategy for coming up with a down payment and getting your finances in order for buying a home.

The first step is getting a copy of your credit report. You might be surprised to know that many reports contain errors or old debts that have been paid but not cleared on the report. These errors can drag down your score, so it's important to get them fixed.

Check out our articles on strategies for budgeting and for coming up with a down payment. Improve your debt-to-income ratio by making extra payments to remove debts more quickly. Start a savings plan for a 20 percent down payment.


Great folks to work with and great rates! We saved a ton on our auto loans! Thanks, CUTX!
Russell V.
I always feel like I’ve been given the best advice for me and my family. They really do put their members first.
Sonya M.

Great services, excellent staff.

Syed W. H.

Helpful Documents

Icon for PDFDownload Product Guide

We're Here To Help

Visit your local branch

We have several convenient locations in North Texas. Come see us!

Talk to a team member

Need to speak with someone directly? We have options for that.

Chat Now

Call Us

Ready to apply?

Apply online now or get started if you need assistance with your application.

NMLS #576560 Credit Union of Texas provides mortgage loans through its affiliate Texas Mortgage Lending, LLC, NMLS #1641703. CUTX home loan programs are only available in Texas. Loans are subject to credit approval, CUTX's lending policies, and property approval. Prequalification is not a commitment to lend. Membership required.