Investor Advantage Pricing Disclosures
For Schwab Bank Mortgage Investor Advantage Pricing (IAP): Each loan is eligible for one Investor Advantage Pricing discount. Select mortgage loans may qualify for an interest rate discount of 0.250%–1.000% with $250,000 or more in qualifying assets.
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 are based on combined Schwab account balances and may include:
a) Brokerage accounts where the borrower is an owner, trustee, or custodian
b) Traditional, Roth, and Rollover IRAs where the borrower is an individual owner or inheritor (educational and custodial IRAs are excluded)
c) Schwab Bank checking and savings accounts where the borrower is an owner or trustee
d) Non-Retirement 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. 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.
Clients using eligible IRA assets to qualify for certain discounts may also be eligible for a special IRA benefit package per loan, which includes an IRA review and consultation with a Financial Consultant. This information is not intended to provide tax, legal, or investment advice. Schwab Bank recommends consulting a qualified professional for individualized guidance.
For clients of Independent Investment Advisors, all retirement accounts, including IRAs, are excluded from this offer. Additional details are available by logging into www.schwaballiance.com.
For Charles Schwab Bank Pledged Asset Line (PAL) Investor Advantage Pricing (IAP): PALs to natural persons and trusts are eligible for only one Investor Advantage Pricing discount per loan. PALs are eligible for an interest rate discount between 0.25% and 1.00% based on Borrower's Schwab brokerage and Schwab Bank combined qualifying assets totaling $250,000 or greater. Loans to organizational borrowers are not currently eligible for IAP discounts.
A. For PAL loans made to individuals, the "Borrower" is defined as any natural person(s) identified as Borrower(s) in the PAL loan application. Qualifying assets are based on the combined account balances as listed below:
a) Brokerage accounts in which the Borrower is an owner, trustee or custodian;
b) Traditional, Roth, and Rollover Individual Retirement Accounts (IRA)* - individually owned or inherited (excludes Educational & Custodial IRAs);
c) Bank deposit accounts in which the Borrower is an owner or trustee: checking & savings;
d) Non-retirement 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 PAL loans made to revocable trusts, the "Borrower" is defined as the Trust named in the PAL loan application. Qualifying assets are based on the combined account balances as listed below:
a) Brokerage accounts in which the Borrower is an owner;
b) Inherited IRAs (excludes Educational & Custodial IRAs);
c) Bank deposit accounts in which the Borrower is an owner: checking & savings;
d) 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 PAL loan application.
C. For PAL loans made to irrevocable trusts, the "Borrower" is defined as the Trust named in the PAL loan application. Qualifying assets are based on the combined account balances as listed below:
a) Brokerage accounts in which the Borrower is an owner;
b) Inherited IRAs (excludes Educational & Custodial IRAs)
c) Bank deposit accounts in which the Borrower is an owner: checking & savings;
*Clients of Independent Investment Advisors: Qualifying assets are based on non-retirement Schwab brokerage and Schwab Bank combined account balances. Retirement accounts, including all IRAs, are excluded from this offer. For additional details please visit and log into www.schwaballiance.com.
Schwab Bank makes their best effort to identify all qualifying assets based on your client profile. If you have questions regarding your specific assets or account eligibility, please call a Banking Professional for assistance.
Clients that utilize an eligible IRA account balance to qualify for certain discounts may qualify for one special IRA benefit package per loan. This includes an in-depth personal financial plan analysis to include a detailed review of your IRA by a Certified Financial Planner. This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab Bank recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.
