Adjustable-Rate Jumbo Loan
When interest rates are on the rise, it’s best to find a mortgage that won’t keep you locked in for 15 or 30 years. Instead, consider an adjustable-rate mortgage (ARM) to finance your dream home. An ARM typically provides a lower initial interest rate than a fixed-rate loan for lower monthly payments.
The initial rate stays the same for the first 5, 7, or 10 years, depending on which type of ARM you choose, then it can change every 6 months for the remainder of the loan. The low initial rate makes ARMs an excellent choice if you decide to move before the first rate adjustment. Talk to your home loan advisor about any plans you have, so they can find the right mortgage for you.
An ARM is open to any profession, with financing up to $4 million for a primary residence home, up to $2.5 million for a second home, and up to $750,000 cash-out refinance on a primary home.
If you think an adjustable-rate jumbo loan may be right for you, you can submit an application here! In the meantime, if you have any questions about any of our loan programs or requirements, you can chat with our digital assistant, Lydia, or reach out to one of our Loan Officers for help.