Adjustable-Rate First Mortgage
Adjustable-rate mortgages including the popular 3-year ARM, 5-year ARM and the 10-year ARM offer lower interest rates.
Competitive Mortgage Rates
Adjustable-Rate Mortgage (First Trust Deed)
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- No mortgage prepayment penalties
- Loans up to $5 million (cumulative total)
- Fast approvals and quick closings for purchase transactions
- Mortgage insurance (PMI) not required on loans of 80% LTV and under
- Special 5/5 hybrid ARM offers greater rate security than traditional ARMs
- More Mortgage Rates
- Fixed-Rate First Mortgage +
as low as 3.943% APR - Home Equity Line of Credit ++
as low as 4.750% APR - Investment Property Loans
as low as 4.811% APR - First-Time Home Buyer
as low as 3% down payment - **Get mortgage rate details and more rates
Compare Adjustable-Rate Mortgages
3/1*, 5/1**, 7/1***, or 10/1**** ARM
- Adjustable-rate loan with an initial fixed-rate period of 3, 5, 7 or 10 years, with payments amortized over 30 years
- Interest rate adjusts annually the year following the initial fixed-rate period
- Index is based on weekly average yield of one-year Treasury Constant Maturity (TCM)
- Margin—Conforming: 2.5% ; over Conforming: 2.75% ; over $1,000,000: 3.00%
- 2% annual cap, 5% lifetime cap above initial rate
5/5 ARM*****
- Adjustable-rate loan with an initial fixed-rate period of 5 years, with payments amortized over 30 years
- Interest rate adjusts every 5 years starting the year following the initial fixed-rate period
- Index is based on weekly average yield of 5-year Treasury Constant Maturity (TCM)
- Margin—Conforming: 2.25% ; over Conforming: 2.50% ; over $1,000,000: 2.75%
- 2% annual cap, 5% lifetime cap above initial rate
Home refinance
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First mortgage for primary residences
Cash out is available for refinance transactions up to 80% LTV.
Maximum loan:
- 97% LTV up to $850,000
- 95% LTV up to $1,000,000
- 80% LTV up to $2,000,000
- 75% LTV up to $3,000,000
- 70% LTV up to $5,000,000
- 80% LTV up to $2,000,000
- 75% LTV up to $3,000,000
- 70% LTV up to $5,000,000
First mortgage for secondary residences or vacation homes
- Single-family residence only
- Purchase or limited cash-out refinance option
- Maximum $1,500,000 loan
- Maximum 70% LTV
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Disclosures
* 3-year fixed-to-adjustable rate: Initial 4.805% APR is fixed for 3 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 36 payments of $1,368.30 at 4.805% APR, followed by 324 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
** 5-year fixed-to-adjustable rate: Initial 4.655% APR is fixed for 5 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 60 payments of $1,389.30 at 4.655% APR, followed by 300 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
*** 7-year fixed-to-adjustable rate: Initial 4.559% APR is fixed for 7 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 84 payments of $1,410.60 at 4.559% APR, followed by 276 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
**** 10-year fixed-to-adjustable rate: Initial 4.408% APR is fixed for 10 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 120 payments of $1,432.20 at 4.408% APR, followed by 240 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
***** 5/5 hybrid ARM: Initial 4.764% APR is fixed for 5 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 60 payments of $ 1,368.30 at 4.764% APR, followed by 240 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
+ Fixed-rate mortgage payment examples assuming a $300,000 loan: 10-year mortgage at 3.943% APR—120 monthly payments at $3,021.30; 15-year mortgage at 4.063% APR—180 monthly payments at $2,219.40; 20-year mortgage at 4.428% APR—240 monthly payments at $1,877.70; and 30-year mortgage at 4.540% APR—360 monthly payments at $1,520.10. Loan payments do not include taxes and insurance.
++ Home-equity lines of credit rates may range from 4.750% APR to 5.25% APR. These rates are variable and the maximum APR that could apply is 18.000%. The maximum term is 25 years, which includes a 10-year draw period and a 15-year repayment period. For lines exceeding $250,000, closing and appraisal fees may apply in the range of $800 to $1,200. There may be an early closure fee of $500 for home equity lines closed within the first two years of origination.
