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5/5 Jumbo ARM over $453K

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This is an Adjustable Rate Mortgage for homes $453,101 up to $1,250,000. With this ARM product, your Annual Percentage Rate will stay the same for the first 5 years of the loan versus changing every year. After 5 years, the rate will only adjust every 5 years, depending on the market.

Best Choice If:

  • The loan amount you are looking to finance is between $453,101 and $1,250,000. The standard 5/5 ARM and 5/1 ARM are for homes under $453,101.
  • You are looking to enhance your buying power, and you want to take advantage of a lower initial rate versus a Fixed Rate loan, but at the same time, want to know your rate will be stable for 5 year periods.
  • You want to keep your rate, which affects monthly payments, low at the beginning of your loan.

Other Features:

  • Rate caps = 2% per adjustment and 5% over the lifetime of the loan. A rate cap is a limit on how much the rate can change at the end of each adjustment period over the life of the loan.
  • Index = 1 year LIBOR
  • Margin = 2.000%
  • Conversion to a Fixed Rate home loan is not currently available.

An example APR for a 5/5 Jumbo ARM over $453,100 30 Year Amortization loan is 3.991%. An example monthly mortgage payment is $2,066. The example quotes are based on a property value of $567,000 and a loan amount of $453,101 for 1st mortgage options. The Annual Percentage Rates (APR) stated is an estimate and is intended for informational use only. Your actual APR may vary based on your actual loan amount. Please visit the Loan Consultant for additional information about our rates and fees. Rates are subject to change without notice. Your actual rate and/or points may be different, as many factors are evaluated for a loan approval.

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