Anyone in this thread have the holy grail, a long-term interest-only mortgage?
We are in Texas, and did a cashout refinance in 2015 in order to extinguish all student loans and pad the then-new Vanguard account, and in hindsight I wouldn't have done it differently (though the sideways market for 15 months after did get a little side-eye from me). But that left us with a type of mortgage that almost no bank wanted to touch (seriously, no one but semi-shady small operators appear willing to refinance a "jumbo Texas home equity loan" as they are called here). So now we are squarely back in just the normal jumbo Texas loan status after the most recent refinance, and have 11 months left on the clock until we are allowed to refinance again and get access to the fuller market.
I'm not holding my breath that rates will be as great then as they are now, but I'm already planning my next refinance (but don't tell DW, she'd kill me at the thought of repeating what we went through this summer), and want to either do another cashout, this time for pure investment purposes (I put us at an LTV of 54% right now, but the 2 appraisals we had to get show us closer to 45%; either way there's a lot of equity doing nothing in our house right now), or even better an interest-only loan. But I've been a part of this thread for most of it's life, and can't recall it coming up much. So has no one taken the plunge, or are all you IO-mortgage folks lurking and nursing your even loftier superiority over us traditional DPOYM club noobs?