Additional Rate and Payment Information - Jumbo

5 Year SOFR ARM1

5 Year SOFR ARM (Interest Only)1
Adjustable-Rate Mortgage: The initial interest rate on 5-year Adjustable-Rate Loan is 5.375% (5.567% APR) for the cost of 0 Point(s) ($) paid in cash at closing. For a $975000 loan, the monthly payment for the initial period is $4367.19. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. This has a 30-year amortization with a fixed rate of interest for the first 5 years, after which the interest rate may adjust every 6 months thereafter for the remainder of the mortgage term using a fully indexed rate (index plus margin rounded to the nearest 0.125%). Initial interest rate adjustment cannot change more than 5%, and thereafter, each subsequent periodic interest rate adjustment cannot change more than 1%. Rate increases are capped at 5% for the life of the loan. Interest rate will never be less than the margin. An interest rate adjustment may increase your monthly payment.

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7 Year SOFR ARM1

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7 Year SOFR ARM (Interest Only)1
Adjustable-Rate Mortgage: The initial interest rate on 7-year Adjustable-Rate Loan is 5.375% (5.538% APR) for the cost of 0 Point(s) ($) paid in cash at closing. For a $975000 loan, the monthly payment for the initial period is $4367.19. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. This has a 30-year amortization with a fixed rate of interest for the first 7 years, after which the interest rate may adjust every 6 months thereafter for the remainder of the mortgage term using a fully indexed rate (index plus margin rounded to the nearest 0.125%). Initial interest rate adjustment cannot change more than 5%, and thereafter, each subsequent periodic interest rate adjustment cannot change more than 1%. Rate increases are capped at 5% for the life of the loan. Interest rate will never be less than the margin. An interest rate adjustment may increase your monthly payment.

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10 Year SOFR ARM1
 

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10 Year SOFR ARM (Interest Only)1
Adjustable-Rate Mortgage: The initial interest rate on 10-year Adjustable-Rate Loan is 5.375% (5.501% APR) for the cost of 0 Point(s) ($) paid in cash at closing. For a $975000 loan, the monthly payment for the initial period is $4367.19. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. This has a 30-year amortization with a fixed rate of interest for the first 10 years, after which the interest rate may adjust every 6 months thereafter for the remainder of the mortgage term using a fully indexed rate (index plus margin rounded to the nearest 0.125%). Initial interest rate adjustment cannot change more than 5%, and thereafter, each subsequent periodic interest rate adjustment cannot change more than 1%. Rate increases are capped at 5% for the life of the loan. Interest rate will never be less than the margin. An interest rate adjustment may increase your monthly payment.

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15-Year Fixed1
*15-Year Fixed-Rate Mortgage:* The payment on a $975000 15-year Fixed-Rate Loan at 5.500% and 60% loan-to-value (LTV) is $7966.57 with 0 points due at closing. The Annual Percentage Rate (APR) is 5.559%. Disclosed payment does not include taxes and insurance premiums, so the actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. The advertised annual percentage rate is an estimate reflecting the average borrower’s cost expressed as a percentage. This includes the interest rate plus other charges and/or fees. Your APR will vary based on your situation. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. This is not a commitment to lend.*

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30-Year Fixed1

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