Looking for a lender that does min payment option, fixed for 5yrs at 1% with 75% LTV

As great as a program like this might be, I'm sorry to have to tell you that it almost certainly does not exist. Although some lenders offer customized mortgage terms, there are none that offer this short of a term. The shortest that is offered is an 8 year term. Also interest rates are not this low. Even with a tremendous amount of up-front "points" to buy down the rate, banks do not even have this rate available in the market to pick from. You can expect rates in the high 1% ranges in the best case scenario, with a solid amount of discount cost, though you would likely want to look at rates in the low 2% ranges to keep the costs within reason. I hope this helps and if you want to discuss what a customized scenario would look like for your specific circumstances, please feel free to email me at dyoungs@progressivels.com Thanks!

You can stop looking, it does not exist. Option payment loans that offered a payment of less than accrued interest were outlawed when the market crashed a decade ago. There are some loans that offer interest only payments, but the rates on these are higher than on a traditional amortizing loan. Lenders are not willing to go that low because in addition to their costs of funds they are lending you, they still have to cover the overhead of servicing the loan. In order to get into a primary residence loan under 2.00%, you would have to be willing to pay several (3-5 Points depending on the loan size), and that's for a 1.99%. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ www.ApplyYes.com 480-889-9000.

What you are looking for was known as an Option ARM. Haven't seen those in like 10-years. I lend in WI, MN, IA, ND, SD. Find me at WI-MortgageBroker.com - NMLS 274132