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Additional Rate and Payment Information - Jumbo

5/1 LIBOR ARM1
*0 point Standard Product Offering:* This adjustable rate mortgage (ARM) offers principal and interest payments based on a 30-year amortizationand may adjust annually thereafter for the remaining 25 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. For example, during the first 5 years the initial payment on a 30-year $750000 loan is $3441.53 at 3.675%, with 60% loan-to-value, 0 points due at closing and 4.624% Annual Percentage Rate (APR). After the initial 5 years, the fully indexed rate will adjust annually, in which case your payment may increase. Based on a recently published index, the initial fully indexed rate rounded to the nearest 0.125% would be 5.250% with principal and interest payments of $3993.72. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount may be greater.  

5/1 LIBOR ARM (Interest Only)1
*5 YEAR LIBOR ARM (Interest Only)* *0 points:* This adjustable rate mortgage (ARM) offers interest only payments for 10 yearsand principal and interest payments thereafter based on a 20-year amortization. The rate of interest is fixed the first 5 years and may adjust annually thereafter for the remaining 5 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. For example, during the first 5 years the initial interest only payment is $2453.13 on a $750000 ARM with a fixed rate of interest of 3.925%, 60% loan-to-value (LTV), 0 points due at closing and 4.750% Annual Percentage Rate (APR). After 5 years, the interest rate is no longer fixed and may adjust annually, in which case your payment may increase. Based on a recently published index, the fully indexed rate rounded to the nearest 0.125% would be 5.250% with interest only payments of $3203.12. After 10 years, the fully indexed rate may adjust annually and the payment will switch from interest only to a principal and interest payment of $3984.37 for the remaining 20 years, based on the then current index and margin. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount will be greater.  

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7/1 LIBOR ARM1
*0 point Standard Product Offering:* This adjustable rate mortgage (ARM) offers principal and interest payments based on a 30-year amortizationand may adjust annually thereafter for the remaining 23 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. For example, during the first 7 years the initial payment on a 30-year $750000 loan is $3462.74 at 3.725%, with 60% loan-to-value, 0 points due at closing and 4.484% Annual Percentage Rate (APR). After the initial 7 years, the fully indexed rate will adjust annually, in which case your payment may increase. Based on a recently published index, the initial fully indexed rate rounded to the nearest 0.125% would be 5.250% with principal and interest payments of $3960.45. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount may be greater.  

7/1 LIBOR ARM (Interest Only)1
*7 YEAR LIBOR ARM (Interest Only)* *0 points:* This adjustable rate mortgage (ARM) offers interest only payments for 10 yearsand principal and interest payments thereafter based on a 20-year amortization. The rate of interest is fixed the first 7 years and may adjust annually thereafter for the remaining 7 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. For example, during the first 7 years the initial interest only payment is $2484.38 on a $750000 ARM with a fixed rate of interest of 3.975%, 60% loan-to-value (LTV), 0 points due at closing and 4.640% Annual Percentage Rate (APR). After 7 years, the interest rate is no longer fixed and may adjust annually, in which case your payment may increase. Based on a recently published index, the fully indexed rate rounded to the nearest 0.125% would be 5.250% with interest only payments of $3203.12. After 10 years, the fully indexed rate may adjust annually and the payment will switch from interest only to a principal and interest payment of $3984.37 for the remaining 20 years, based on the then current index and margin. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount will be greater.  

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10/1 LIBOR ARM1
*0 point Standard Product Offering:* This adjustable rate mortgage (ARM) offers principal and interest payments based on a 30-year amortizationand may adjust annually thereafter for the remaining 20 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. For example, during the first 10 years the initial payment on a 30-year $750000 loan is $3623.99 at 4.100%, with 60% loan-to-value, 0 points due at closing and 4.515% Annual Percentage Rate (APR). After the initial 10 years, the fully indexed rate will adjust annually, in which case your payment may increase. Based on a recently published index, the initial fully indexed rate rounded to the nearest 0.125% would be 5.250% with principal and interest payments of $3953.73. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount may be greater.  

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15-Year Fixed1
15-Year Fixed-Rate Mortgage: The payment on a $750000 15-year Fixed-Rate Loan at 3.875% and 60% loan-to-value (LTV) is $5500.8 with 0 points due at closing. The Annual Percentage Rate (APR) is 3.929%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.  

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1. For Jumbo loans, the APR and Monthly Payment calculation is based on a loan amount of $750,000. Current Rates: 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 rates and APRs shown are based on a purchase or rate and term refinance of an owner occupied, single family residence, with 60% Loan-to-Value (LTV),for our best-qualified customers.

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.

In order to participate, the borrower must agree that the lender, Quicken Loans, may share their information with Charles Schwab Bank.

This offer is subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an obligation to lend. Loans are subject to credit and property approval. Other conditions and restrictions may apply. Hazard insurance may be required. Program terms and conditions are subject to change.

For Mortgage First: The borrower will receive a $500 promotional closing cost credit on Conforming, High Balance Mortgages or a $750 promotional closing cost credit on Jumbo Mortgages upon closing a Mortgage First purchase loan. Closing cost credits are limited to one per loan, depending on loan type. This promotional closing cost credit offer is only available to Mortgage First preapproval program participants who close on a Mortgage First purchase loan offered by Schwab Bank’s home lending provider Quicken Loans. The application date must be between April 4th, 2018 and December 31st, 2019 in order to qualify to receive a closing cost credit. The application date is printed on your Loan Estimate. This offer is not valid on Home Equity Lines of Credit. The closing cost credit will appear on the borrower's final Closing Disclosure and is non-refundable in cash to the borrower.

The Quicken Loans Mortgage First documentation reviewed in evaluating the mortgage loan application is valid for 90 days from the date of receipt. It may be necessary to update such documentation during the loan process and the approval is subject to the results of such updates. The preapproval shall be void if, in the opinion of Quicken Loans Inc., there is or has been a material change in your financial situation, employment status, credit status, property or any other information reviewed by Quicken Loans in connection with the mortgage loan application, including but not limited to an increase in the qualifying monthly payment. The approval is subject to the lender approval of the property. A satisfactory title report and an appraisal supporting the minimum loan to value ratio for the type of mortgage product selected will be required. Hazard and flood insurance may be required.

For Schwab Bank Investor Advantage Pricing: Only one Investor Advantage Pricing discount eligible per loan. Discounts available for all Adjustable-Rate Mortgage (ARM) loan sizes, and selected Jumbo Fixed-Rate loans. Discount for ARMs applies to initial fixed-rate period only with the exception of the 1-month ARM where the discount is applied to the margin. Eligible balance based on Schwab and Schwab Bank combined account balances, including the following retirement account types: Traditional, Roth, Rollover, and Inherited IRAs. Clients that utilize an eligible IRA account balance to qualify for certain discounts may qualify for one special IRA benefits package per loan. This includes: a $200 bonus award into your Schwab IRA account with the largest balance, and an In-depth personal financial plan analysis to include a detailed review of your IRA(s) 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.

IRA account balance eligibility and the IRA benefit package is not available for clients and independent investment advisors. Details for the discount program available for these clients can be found by visiting www.schwab.com/advisors.

Eligible balance must be verified 15 days prior to your anticipated closing for an on-time close. If you deposit your eligible assets with less than 15 days remaining before closing, your closing date may be delayed, and your eligibility to receive the promotional rate may be affected.

Where specific advice is necessary or appropriate, Schwab Bank recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.

Charles Schwab Bank and Charles Schwab & Co., Inc., are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Investment products are offered by Charles Schwab & Co., Inc. (member SIPC) are not insured by the FDIC, are not deposits or obligations of Charles Schwab Bank, 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 Quicken Loans Inc., Equal Housing Lender. NMLS# 3030. Quicken Loans Inc. is not affiliated with The Charles Schwab Corporation, Charles Schwab & Co., Inc., or Charles Schwab Bank. Deposit and other lending products are offered by Charles Schwab Bank, Member FDIC and an Equal Housing Lender.