Take the first step toward your new home.
Enjoy exclusive discounts available through Schwab Bank.
Take advantage of discounts on competitive rates through Schwab Bank's Investor Advantage Pricing.1
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0.25%interest rate discount
$250k - $999k
in qualifying assets1 -
0.50%interest rate discount
$1M – $4.9M
in qualifying assets1 -
0.75%interest rate discount
$5M – $9.9M
in qualifying assets1 -
1.00%interest rate discount
$10M+ in qualifying assets¹
Featured Rates
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With our latest exclusive offer, the more qualifying assets you have with Schwab, the more you may save on home purchase or refinance loans.
Schwab Bank also offers clients a premier home lending experience with award-winning service from our home loans provider Rocket Mortgage – America's Largest Mortgage Lender.3
Throughout the loan process, you'll work side by side with both Schwab Bank and a Rocket Mortgage team solely dedicated to serving Schwab clients.
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Today's featured mortgage rates
The rates shown below do not include Investor Advantage Pricing discounts and are based on a $975,000 loan and 60% LTV for Jumbo and $250,000 loan and 60% LTV for Conforming.2
Jumbo 10 Year ARM Conforming 10 year ARM 2.875%
2.946% APR3.000%
3.056% APRRates as of: 9:30 AM EST 01/25/2022
See all Rates and more pricing options in the pricing table.
Title
Whether you're buying a home for the first time, moving to a larger space, or purchasing a vacation home or investment property, Schwab Bank & Rocket Mortgage will help you find a home loan tailored to your needs.
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Service
For several consecutive years, J.D. Power has ranked Rocket Mortgage highest in the nation in customer satisfaction for Primary Mortgage Origination and for Mortgage Servicing.4
Throughout the loan process, you'll work side by side with both Schwab Bank and a Rocket Mortgage team solely dedicated to serving Schwab clients.
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Convenience
Closing may take place at your home, your office, or another preferred location, and you can sign and submit most disclosures and supporting documents electronically.
With electronic documents, you'll reduce paperwork by signing forms online and from your home, and you'll save time by eliminating the scanning and mailing of forms.
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Value
As a Schwab client, you have access to competitive interest rates for home loans on a variety of loan types.
Plus, you may be eligible for additional discounts based on your combined assets with Schwab.
Mortgage First Preapproval
Mortgage First Preapproval
With Mortgage First,5 offered by Schwab Bank's home loan provider Rocket Mortgage, you can become a more competitive buyer with preapproval on your loan. You'll enjoy the benefits—before you even begin to shop for your new home.
or call Rocket Mortgage today at 877-535-4021
Industry Leaders
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Industry Leaders
Experience the benefits of working with Schwab Bank and Rocket Mortgage, America's largest mortgage lender.³
Why did Schwab Bank team with Rocket Mortgage? For award-winning service and industry-leading technology.
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Get Interest Rate Information Quickly
Plan for your mortgage with the Mortgage Rate Calculator. Based on the goals and data you provide, you will see the rate you qualify for. Plus, set alerts to stay up to date on mortgage interest rate changes.
Find a home loan that's right for you.
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Fixed-Rate Loan- You want a stable monthly payment for the life of the loan.
- You are uncomfortable with interest rates rising significantly over the next few years.
- You are purchasing a home you plan to stay in for a long time.
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Adjustable-Rate Loan- You want to lower your initial monthly payments.
- You plan to sell or refinance your home within the initial fixed-rate period.
- You expect your income to increase in the future.
- You don't anticipate interest rates to increase significantly in the future.
Note: Your interest rate and monthly payments may increase after the initial fixed-rate period ends.
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Interest-Only Loan- You have plans to sell the property within a short period.
- If you anticipate the ability to make a large principal reduction within the next few years of the loan, an interest-only loan may be a good option.
- Interest-only loans6 may be a good fit for your needs if you have irregular income such as investments and commissions, whereas if you have steady income levels your needs may be better satisfied with principal and interest payment loans.
- After the initial interest-only period, your monthly payments will rise.
How the home loan process works in five steps
Step 1: Your Needs and Goals
Talk to us about your goals.
You'll talk with either your Financial Consultant or a Rocket Mortgage Home Loan Expert about your home financing needs and your goals. They will answer any mortgage questions you may have.
Step 2: Application
You apply.
With your permission, your Rocket Mortgage Home Loan Expert will pull your credit score.
Step 3: Sign Your Documents
You provide the requested documents.
Once you're ready to proceed, Rocket Mortgage will help you create an online account to upload and electronically sign your documents.
Step 4: Verification
Rocket Mortgage underwrites your loan.
Rocket Mortgage will verify the information you provided and order an appraisal of the property if you are approved.
Step 5: Home Loan Closing
Before you know it, your loan is closing.
When everything is ready, Rocket Mortgage will schedule your home loan closing at a location that's convenient for you.
Frequently asked mortgage purchase questions
- Can I change the loan amount, down payment, or payment schedule after I've received my loan decision?
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Yes, as long as you meet the criteria for the new loan amount or new program you've selected.
- What documents will I need to apply for a mortgage?
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Following are some of the more commonly requested documents. This list is not all-inclusive.
- When applicable, a fully executed agreement of sale for the property being purchased
- Financial statements for bank and brokerage accounts
- Closing disclosures on the property you're selling
- Your most recent pay stubs, if applicable
- Previous W2s
- A copy of a rental lease, if applicable
- Homeowner's insurance policy declarations page
- Flood insurance policy, if applicable
- What costs are associated with making a home purchase?
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Typically, the borrower pays for closing costs such as appraisal, inspection, and title company fees. Once the application is submitted, the borrower receives a loan estimate that includes all fees associated with the transaction.
- I am a Schwab client, but how does Rocket Mortgage come into the picture?
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Rocket Mortgage is the home loan provider for Schwab Bank. We work with Rocket Mortgage to offer mortgage products for our clients. Rocket Mortgage is an industry leader in client service and technology. Rocket Mortgage has a dedicated team of experts specifically serving Schwab clients to ensure an outstanding level of service.
- Can I get preapproved for a home purchase through the Rocket Mortgage Mortgage First program?
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Yes. With the Rocket Mortgage Mortgage First program, you can apply for a preapproval that allows you to become a more competitive buyer before you start shopping for your new home.
Mortgage First by Rocket Mortgage
Mortgage First by Rocket Mortgage
- What is Mortgage First?
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Mortgage First is a preapproval program that may allow you to get preapproved on your home loan before you start shopping for your new home.
- What is the advantage to being preapproved?
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By providing documentation up front and getting preapproved, you'll have confidence while shopping for your house knowing that you've already been preapproved for financing. Additionally, being preapproved upfront can give you a competitive advantage in the market.
- What documents do I need to provide to apply for Mortgage First?
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Schwab Bank and Rocket Mortgage will assist you with completing the credit application, and you'll need to provide your income, asset, and credit documentation for review in order to be eligible for pre-approval.
