If you are purchasing or refinancing a home and need to borrow more than $417,000 ($625,500 in AK and HI), a Jumbo loan may be the right choice for you. Click on "Loan Consultant" to get a list of current interest rates and closing costs as well as other products you may wish to consider.
10 Year Fixed Jumbo
| Best Choice If:You want a loan with:
Fixed monthly payments
A shorter repayment period | Advantages:Fixed interest rate
Level principal and interest payments for the full term of the loan
Save money with a shorter term and less total interest payments
No risk that changing market conditions will increase your rate or monthly payments
No prepayment penalty
Automatic payment option available | Disadvantages:Monthly payments significantly higher than with a longer term mortgage
Loan amounts greater than $417,000 only |
15 Year Fixed Jumbo
| Best Choice If:You want a loan with:
Fixed monthly payments
A shorter repayment period | Advantages:Fixed interest rate
Level principal and interest payments for the full term of the loan
Save money with a shorter term and less total interest payments
No risk that changing market conditions will increase your rate or monthly payments
No prepayment penalty
Automatic payment option available | Disadvantages:Monthly payments significantly higher than with a longer term mortgage
Loan amounts greater than $417,000 only |
20 Year Fixed Jumbo
| Best Choice If:You want a loan with:
Fixed monthly payments
A shorter repayment period | Advantages:Fixed interest rate
Level principal and interest payments for the full term of the loan
Save money with a shorter term and less total interest payments
No risk that changing market conditions will increase your rate or monthly payments
No prepayment penalty
Automatic payment option available | Disadvantages:Monthly payments significantly higher than with a longer term mortgage
Loan amounts greater than $417,000 only |
30 Year Jumbo Fixed
| Best Choice If:You want a loan with:
Fixed monthly payments
You plan on staying in the home long-term
You think interest rates will increase | Advantages:Fixed interest rate
Level principal and interest payments for the full term of the loan
No risk that changing market conditions will increase your rate or monthly payments
No prepayment penalty
Automatic payment option available | Disadvantages:Benefits of the fixed rate may not be realized until after the 10th year
Pay more interest charges over the life of the loan compared to shorter term loans
Loan amounts greater than $417,000 only |
Jumbo ARM 10/6M 30 Yr
| Best Choice If:You want a loan with:
Lower initial monthly payments and rate
Payments that adjust up and down with market movements
Benefits of both a Fixed and ARM product | Advantages:Interest rate stays fixed for the first 10 years, may adjust semi-annually thereafter
Allows for a higher loan amount qualification and enhanced buying power
No prepayment penalty
Automatic payment option available | Disadvantages:Interest rate and monthly payments may adjust annually
Riskier if you do not have the income to cover the potential changes in monthly payment
Interest rate can rise above the current fixed rates over time |
Jumbo ARM 3/6M 30 Yr
| Best Choice If:You want a loan with:
Lower initial monthly payments and rate
Payments that adjust up and down with market movements
Benefits of both a Fixed and ARM product | Advantages:Interest rate stays fixed for the first three years, adjusts semi-annually thereafter
Allows for a higher loan amount qualification and enhanced buying power
No prepayment penalty
Automatic payment option available | Disadvantages:Interest rate and monthly payments may adjust frequently
Riskier if you do not have the income to cover the potential changes in monthly payment
Interest rate can rise above the current fixed rates over time |
Jumbo ARM 5/6M 30 Yr
| Best Choice If:You want a loan with:
Lower initial monthly payments and rate
Payments that adjust up and down with market movements
Benefits of both a Fixed and ARM product | Advantages:Interest rate stays fixed for the first 5 years, may adjust semi-annually thereafter
Allows for a higher loan amount qualification and enhanced buying power
No prepayment penalty
Automatic payment option available | Disadvantages:Interest rate and monthly payments may adjust annually
Riskier if you do not have the income to cover the potential changes in monthly payment
Interest rate can rise above the current fixed rates over time |
Jumbo ARM 7/6M 15 Yr
| Best Choice If:You want a loan with:
Lower initial monthly payments and rate
Payments that adjust up and down with market movements
Benefits of both a Fixed and ARM product | Advantages:Interest rate stays fixed for the first 7 years, may adjust semi-annually thereafter
Allows for a higher loan amount qualification and enhanced buying power
No prepayment penalty
Automatic payment option available | Disadvantages:Interest rate and monthly payments may adjust annually
Riskier if you do not have the income to cover the potential changes in monthly payment
Interest rate can rise above the current fixed rates over time |
Jumbo ARM 7/6M 30 Yr
| Best Choice If:You want a loan with:
Lower initial monthly payments and rate
Payments that adjust up and down with market movements
Benefits of both a Fixed and ARM product | Advantages:Interest rate stays fixed for the first 7 years, may adjust semi-annually thereafter
Allows for a higher loan amount qualification and enhanced buying power
No prepayment penalty
Automatic payment option available | Disadvantages:Interest rate and monthly payments may adjust annually
Riskier if you do not have the income to cover the potential changes in monthly payment
Interest rate can rise above the current fixed rates over time |
