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5/5 Jumbo ARM over $453K

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This is an Adjustable Rate Mortgage for homes $484,351 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 $484,351 and $1,250,000. The standard 5/5 ARM and 5/1 ARM are for homes under $484,351.
  • 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 Year Jumbo ARM loan over $484,350 is 4.801%. An example monthly mortgage payment of principal and interest is $2,330. The example quotes are based on a property value of $567,000 and a loan amount of $484,351. 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 speak with a Loan Executive 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. This product is subject to change or cancellation at any time without prior notice

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