Investor Advantage Pricing Disclosures

Charles Schwab Bank, SSB Mortgage Investor Advantage Pricing (IAP): Loans are eligible for only one IAP discount per loan. Select mortgage loans may qualify for an interest rate discount of 0.250%–1.000% based on Borrower's Schwab brokerage, Charles Schwab Bank, SSB (Schwab Bank), and Charles Schwab Premier Bank, SSB (Schwab Premier Bank) combined qualifying assets totaling $250,000 or greater.

The discount applies to Adjustable Rate Mortgages (ARMs), Jumbo 15 year, and Jumbo 30 year fixed rate mortgages. For ARMs, the discount applies only during the initial fixed rate period. Eligibility is limited to loans invested by Schwab Bank (excluding CMAP and HELOC); loans invested by other parties are not eligible.

Qualifying assets may include:

  1. Schwab brokerage accounts where the borrower is an owner, trustee, or custodian
  2. Traditional, Roth, and Rollover IRAs where the borrower is an individual owner or inheritor (educational and custodial IRAs are excluded)
  3. Schwab Bank checking and savings accounts where the borrower is an owner or trustee
  4. Schwab Premier Bank cryptocurrency accounts where the borrower is an owner
  5. Corporate, LLC, Partnership, and Sole Proprietorship accounts may be eligible depending on the borrower's ownership and role (business retirement accounts such as SEP IRAs, SIMPLE IRAs, and Pension Trusts are excluded)

Schwab Bank makes its best effort to identify all qualifying assets based on Social Security Number. Accounts listed are not intended to be an exhaustive list of eligible accounts which are subject to change. If you have questions regarding your specific assets or account eligibility, please call your Banking Professional for assistance. Clients must notify Schwab Bank and Rocket Mortgage of any new assets added during loan processing. Qualifying assets must be deposited and verified at least 10 days prior to the anticipated closing date to avoid delays and remain eligible for the discount.

 

Charles Schwab Bank, SSB – Securities-Based Loans - Investor Advantage Pricing (IAP): Loans to natural persons and trusts are eligible for only one IAP discount per loan. Loans are eligible for an interest rate discount between 0.25% and 1.00% based on Borrower's Schwab brokerage, Charles Schwab Bank, SSB (Schwab Bank), and Charles Schwab Premier Bank, SSB (Schwab Premier Bank) combined qualifying assets totaling $250,000 or greater. Loans to organizational borrowers are not currently eligible for IAP discounts.

A. For loans made to individuals, the "Borrower" is defined as any natural person(s) identified as Borrower(s) in the loan application. Qualifying assets are based on the combined account balances as listed below:

  1. Schwab brokerage accounts in which the Borrower is an owner, trustee, or custodian;
  2. Traditional, Roth, and Rollover Individual Retirement Accounts (IRA)—individually owned or inherited (excludes Educational & Custodial IRAs);
  3. Schwab Bank checking and savings accounts in which the Borrower is an owner or trustee;
  4. Schwab Premier Bank cryptocurrency accounts in which the Borrower is an owner;
  5. Corporate, LLC, Partnership, and Sole Proprietorship accounts may be eligible depending on the Borrower's ownership and role (excludes business retirement accounts such as Simple IRA, SEP IRA & Pension Trust).

B. For loans made to revocable trusts, the "Borrower" is defined as the Trust named in the loan application. Qualifying assets are based on the combined account balances as listed below:

  1. Schwab brokerage accounts in which the Borrower is an owner;
  2. Inherited IRAs (excludes Educational & Custodial IRAs);
  3. Schwab Bank checking and savings accounts in which the Borrower is an owner;
  4. The qualifying assets, as outlined in Section A above, of any natural person(s) named as BOTH "Trustee of Trust Borrower" AND "Grantor of Trust Borrower" as identified in the loan application.

C. For loans made to irrevocable trusts, the "Borrower" is defined as the Trust named in the loan application. Qualifying assets are based on the combined account balances as listed below:

  1. Schwab brokerage accounts in which the Borrower is an owner;
  2. Inherited IRAs (excludes Educational & Custodial IRAs); 
  3. Schwab Bank checking and savings accounts in which the Borrower is an owner.

Schwab Bank makes their best effort to identify all qualifying assets based on your client profile. Accounts listed are not intended to be an exhaustive list of eligible accounts which are subject to change. If you have questions regarding your specific assets or account eligibility, please call a Banking Professional for assistance.