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Purchase a Home

Take the first step towards your new home.

Equal Housing Lender Home Loans – Provided by Rocket Mortgage®

Enjoy exclusive discounts available through Schwab Bank.

0.250%

interest rate discount

$250K – $999K

in qualifying assets1

0.500%

interest rate discount

$1M – $4.9M

in qualifying assets1

0.750%

interest rate discount

$5M – $9.9M

in qualifying assets1

1.000%

interest rate discount

$10M+

in qualifying assets1

Take advantage of discounts and competitive rates through Schwab Bank's Investor Advantage Pricing.1

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.

Today's featured mortgage rates

The rates shown below do not include Investor Advantage Pricing discounts and are based on $850,000 loan and 60% LTV for Jumbo and $250,000 loan and 60% LTV for Conforming.2

Jumbo 10 Year ARM

2.75%

2.872% APR

Conforming 10 year ARM

2.5%

2.755% APR

Rates as of: 12:37 PM EDT  09/20/2021
See All Rates and more loan options in the pricing table >

See rates and more loan options >

Whether you're a first-time homebuyer, 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.

Service

For 11 years in a row, J.D. Power has ranked Rocket Mortgage highest in the nation in customer satisfaction for Primary Mortgage Origination. And for the 7th year in a row, they also ranked Rocket Mortgage highest in the nation 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.

Convenience

Closing may take place at your home, your office, or another preferred location, plus you may sign and submit most disclosures and supporting documentation electronically. With electronic documentations, you'll reduce paperwork by signing forms online and from your home, not to mention save time by eliminating the scanning and mailing of forms.

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

With Mortgage First5, offered by Schwab Bank's home loan provider Rocket Mortgage, you may 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.

Get Started Online or Call Rocket Mortgage at 877-535-4021

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.

Watch our video to find out more >

Mortgage Rate Calculator

Begin to plan for your mortgage with the mortgage rate calculator. Based on your specific situation, you will see the rate you may qualify for. Your calculations will be tailored to the goals and data you provide.

Get a customized mortgage rate quote >

Insights

Fixed vs. Adjustable-Rate Mortgages > The Rise of Jumbo Loans > Fixed-Rate Mortgage vs. ARM: How Do They Compare? > Can You Use IRA Assets to Purchase a Retirement Home? Should You? > Homeownership: 4 Things to Know About Renting vs. Buying >

Find a home loan that's right for you.

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.

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.

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 5 steps:

1Talk 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.

Frequently asked mortgage purchase questions.

  • Yes, as long as you meet the criteria for the new loan amount or new program you've selected.

  • 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

  • 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 which includes all fees associated with the transaction.

  • Rocket Mortgage is the home loan provider for Charles 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.

  • Yes. With Rocket Mortgage Mortgage First program, you can apply for a preapproval that allows you to be a more competitive buyer before you start shopping for your new home.

Mortgage First by Rocket Mortgage

  • 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.

  • By providing documentation upfront and getting preapproved, you will 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.

  • Schwab Bank and Rocket Mortgage will assist you with completing the credit application and you will need to provide your income, asset, and credit documentation for review in order to be eligible for pre-approval.

Don't see the answer you need?

Call Rocket Mortgage
877-535-4021

Want more info on today's rates?

View today's featured mortgage rates and see which loan types qualify for Investor Advantage Pricing.1

Visit the Rates page to see exclusive discounts >

Interested in refinancing?

Lower your monthly payments, or pay off your loan sooner, by refinancing your mortgage with Schwab Bank and Rocket Mortgage.

Discover refinancing solutions >

Need a home equity line of credit?

Obtain a competitive-rate home equity line of credit (HELOC)7 with Schwab Bank's home equity lending program, provided by Rocket Mortgage.

Benefit from your home's equity with a low APR >
Ready to start the mortgage process?
Get Started
Call Rocket Mortgage at 877-535-4021

Mon.-Fri., 8 a.m. – 9 p.m. ET;
Sat. 8 a.m. – 4 p.m. ET

In order to participate, the borrower must agree that the lender, Rocket Mortgage, may share their information with Charles Schwab Bank and Charles Schwab Bank will share their information with the lender Rocket Mortgage. Nothing herein is or should be interpreted as an obligation to lend. Loans are subject to credit and collateral approval. Other conditions and restrictions may apply. This offer is subject to change or withdraw at any time and without notice. Interest rate discounts cannot be combined with any other offers or rate discounts. Hazard insurance may be required.

1.  For Schwab Bank Investor Advantage Pricing (IAP): Loans are eligible for only one Investor Advantage Pricing discount per loan. Select mortgage loans are eligible for an interest rate discount of 0.250% - 1.000% based on qualifying assets of $250,000 or greater. Discount applies to ARMs, Jumbo 15-yr and Jumbo 30-yr fixed (excludes HELOCs, VA loans, and FHA loans). Discount for ARMs applies to initial fixed-rate period only.

Qualifying assets are based on Schwab brokerage and Schwab Bank combined account balances, including: 

a) Brokerage accounts in which the borrower(s) 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 accounts in which the borrower(s) is an owner or trustee: checking & savings; 
d) Non-Retirement Business Corporation, 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). 

*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 and log into www.schwaballiance.com.

Schwab Bank makes its best effort to identify all qualifying assets based on your Social Security Number. If you have questions regarding your specific assets or account eligibility, please call your Schwab Bank representative 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.  

Clients must notify Schwab and Rocket Mortgage of any new assets brought to firm during processing. Qualifying new assets should be deposited and verified 15 days prior to the anticipated closing date to avoid closing delays. If the qualifying assets are deposited with less than 15 days remaining before closing, the closing date may be delayed, and eligibility to receive the interest rate discount may be affected. For the $10MM tier, you must apply and lock your interest rate on or after 7/30/21 to qualify for the discount offer.

2. Due to market fluctuations, interest rates are subject to change at any time and without notice and are subject to credit and property approval based on underwriting guidelines. The rate and APR shown is based on a purchase loan of an owner occupied, single family residence. Your individual rate may vary.

Interest Rates, APRs, and Monthly Payment calculations are based on the following loan amounts and Loan-to-Value (LTV):
Conforming: $250,000, 60% LTV
Jumbo: $850,000, 60% LTV
Rates may be higher or lower for different loan amounts, loan products, property type, credit score, occupancy, Loan-to-Value, and loan purposes.

3. "Rocket Mortgage, America's Largest Mortgage Lender" Based on Rocket Mortgage data in comparison to public data records.

4. Rocket Mortgage received the highest score in the J.D. Power 2010 – 2020 (tied in 2017) Primary Mortgage Origination and 2014 – 2020 Primary Mortgage Servicer Studies of customers' satisfaction with their mortgage sales experience and mortgage servicer company, respectively.  Visit JDPower.com/Awards.

5. For Mortgage First: Mortgage First is a service available exclusively from Rocket Mortgage. Rocket Mortgage verifies the home buyer's income, reviews credit, and underwrites the proposed loan without an identified property. Not all properties are eligible. Once a property has been identified and approved, Rocket Mortgage may issue final loan approval. The interest rate does not lock until a contract is entered, and so rates may change without notice. Other conditions and restrictions may apply. No loan will issue without buyer's provision of insurance, an adequate appraisal, and clear title. This advertisement is not an offer to lend, and does not empower you to accept any loan agreement. Mortgage First terms and conditions may change without notice.

6. Interest-only mortgages have an initial interest-only payment period followed by a fully amortizing payment period. After the interest-only period ends, your monthly payments will increase because you will be paying both principal and interest.

7. Home equity lines have a 10‐year draw period followed by a 20‐year repayment period. During the draw period, monthly payments of accrued interest are required. Payments will increase if rates increase. At the end of the draw period, your required monthly payments will increase because you will be paying both principal and interest. You may not use this home equity line as a bridge loan, for commercial purposes, to invest in securities, or to repay a margin loan.

HELOC Terms: First lien standalone HELOCs are available. Second lien standalone or piggyback HELOCs are available with an eligible Schwab Bank first lien loan. As of 3/16/2020 the annual percentage rate (APR) for a primary residence HELOC opened simultaneously with your first mortgage loan—also known as piggyback loan—is 3.00% . Rates vary for second homes, vacation homes, or HELOCs opened as standalone accounts. The APR on your home equity line of credit is variable based upon the Wall Street Journal Prime Rate plus a margin. The maximum APR that can apply is 18% or the maximum amount permitted by state law, whichever is less. The minimum credit line amount is $50,000 or the minimum amount permitted by state law, whichever is less. The maximum credit line is $1,000,000. Additional terms and conditions apply. Please contact your Schwab Bank representative for assistance regarding eligible loan types.  

HELOC Fees: The estimated range of fees you may pay is from $0 ‐ $29.00 for every $1,000 of your line amount, and will vary based on the location of the property. The amounts provided are estimates and are not a substitute for initial disclosures of closing costs that you will receive once you apply for a home equity line of credit with Rocket Mortgage. Proof of proper and adequate insurance may be required prior to closing. You are responsible for paying any state, county, or local taxes imposed on a home mortgage transaction.

Rocket Mortgage, LLC; NMLS #3030; www.nmlsconsumeraccess.org. Equal Housing Lender. Licensed in 50 states. AL License No. MC 20979, Control No. 100152352. AR, TX: 1050 Woodward Ave., Detroit, MI 48226-1906, (888) 474-0404; AZ: 1 N. Central Ave., Ste. 2000, Phoenix, AZ 85004, Mortgage Banker License #BK-0902939; CA: Licensed by Dept. of Business Oversight, under the CA Residential Mortgage Lending Act and Finance Lenders Law; CO: Regulated by the Division of Real Estate; GA: Residential Mortgage Licensee #11704; IL: Residential Mortgage Licensee #4127 – Dept. of Financial and Professional Regulation; KS: Licensed Mortgage Company MC.0025309; MA: Mortgage Lender License #ML 3030; ME: Supervised Lender License; MN: Not an offer for a rate lock agreement; MS: Licensed by the MS Dept. of Banking and Consumer Finance; NH: Licensed by the NH Banking Dept., #6743MB; NV: License #626; NJ: New Jersey – Rocket Mortgage, LLC, 1050 Woodward Ave., Detroit, MI 48226, (888) 474-0404, Licensed by the N.J. Department of Banking and Insurance.; NY: Licensed Mortgage Banker – NYS Banking Dept.; OH: MB 850076; OR: License #ML-1387; PA: Licensed by the Dept. of Banking – License #21430; RI: Licensed Lender; WA: Consumer Loan Company License CL-3030. Conditions may apply. Lending services provided by ©2000 – 2021 Rocket Mortgage LLC, a subsidiary of Rock Holdings Inc. “Rocket Mortgage” is a registered service mark of Intuit Inc., used under license.

Charles Schwab Bank, SSB and Charles Schwab & Co., Inc. are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Brokerage products offered by Charles Schwab & Co., Inc. (Member SIPC) are not insured by the FDIC, are not deposits or obligations of Charles Schwab Bank, SSB and are subject to investment risk, including the possible loss of principal invested. Charles Schwab & Co., Inc. does not solicit, offer, endorse, negotiate or originate any mortgage loan products and is neither a licensed mortgage broker nor a licensed mortgage lender. Home lending is offered and provided by Rocket Mortgage, LLC. Rocket Mortgage LLC., is not affiliated with The Charles Schwab Corporation, Charles Schwab & Co., Inc. or Charles Schwab Bank, SSB. Deposit and other lending products are offered by Charles Schwab Bank, SSB, Member FDIC and Equal Housing Lender.