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Maybe you need more room for your growing family. Maybe you want to live in a beautiful neighborhood – or even by the beach. A Jumbo Mortgage lets you borrow more so you can buy a high-value home.
With competitive rates and special deals on closing costs, we can help make your big move happen.
| Jumbo Fixed Rate Mortgage | Rate | APR | Points |
|---|---|---|---|
| 15 Year | 5.875% | 5.875% | 0.000 |
| 15 Year - No Closing Costs Up to 2% of Amount Financed* | 6.125% | 6.128% | 0.000 |
| 20 Year | 6.125% | 6.212% | 0.000 |
| 20 Year - No Closing Costs Up to 2% of Amount Financed* | 6.375% | 6.377% | 0.000 |
| 30 Year |
6.250% | 6.316% | 0.000 |
| 30 Year - No Closing Costs Up to 2% of Amount Financed* | 6.500% | 6.502% | 0.000 |
| Jumbo Adjustable Rate Mortgage | Rate | APR | Points |
|---|---|---|---|
| 3 yr./6 mo. ARM2 | 5.375% | 5.437% | 0.000 |
| 3 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed* | 5.625% | 5.626% | 0.000 |
| 5 yr./6 mo. ARM2 | 5.250% | 5.312% | 0.000 |
| 5 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed* | 5.500% | 5.501% | 0.000 |
| 5 yr./5 yr. ARM3 | 5.625% | 5.688% | 0.000 |
| 5 yr./5 yr. ARM3 _ No closing costs up to 2% of amount financed* | 5.875% | 5.877% | 0.000 |
| 7 yr./6 mo. ARM2 | 5.375% | 5.437% | 0.000 |
| 7 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed* | 5.625% | 5.626% | 0.000 |
| 10 yr./6 mo. ARM2 | 5.500% | 5.563% | 0.000 |
| 10 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed* | 5.750% | 5.751% | 0.000 |
– Sylvester B.
Even though a Jumbo Loan is above the conforming loan amount, it's still considered a conventional mortgage. A conventional mortgage means the agreement is between you and your lender. It's not a government-backed loan like a VA loan, FHA loan, or USDA loan.
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1Jumbo Mortgage Rates applicable for loan amounts greater than $740,000. This annual rate of interest example takes into account a 20% down payment for a Jumbo Mortgage Fixed Rate Loan of $740,000 at 30 years at 6.5000%, you would make 360 payments of $4,677.30. Payment amount does not include taxes and insurance. Actual payment amount will be greater.
2Rate is variable with an initial rate adjustment cap of 2%, a subsequent rate adjustment cap of 1% and a lifetime maximum cap of 6%. Other restrictions may apply.
3Rate is variable with a periodic cap of 2 percentage points above the index every 5 years with a lifetime maximum cap of 5 percentage points above the original rate. Other restrictions may apply.
5 yr./5 yr. Adjustable Rate Mortgage of $740,000 at 30 years at 6.125%, you would make 60 fixed payments of $4,496.36 at 6.189% APR. After that, the fully indexed rate of 6.125% will apply to the remaining 300 payments and may vary every five years. Payment amount does not include taxes and insurance. Actual payment amount will be greater.
*Power Financial Credit Union will pay for all eligible closing costs, excluding rate buy downs/points and prepaid items, up to a maximum of 2% of the loan amount. This is a limited-time promotion. All purchase and refinance fixed rate mortgages secured by a primary residence are eligible. Investment properties or second homes do not qualify. Subject to a three year recapture fee. If the loan is paid off earlier than 36 months (3 years), the lender credit will be added to the payoff.
Rates and offers are subject to change without notice.
*Annual Percentage Rate (APR).
**Power Financial Credit Union will pay for all eligible closing costs, excluding rate buy downs/points and prepaid items, up to a maximum of 2% of the loan amount. This is a limited-time promotion. All purchase and refinance fixed rate mortgages secured by a primary residence are eligible. Investment properties or second homes do not qualify. Subject to a three year recapture fee. If the loan is paid off earlier than 36 months (3 years), the lender credit will be added to the payoff.
***Conditions and restrictions apply. See Credit Union for details.
1Jumbo Mortgage Rates applicable for loan amounts greater than $726,200. This annual rate of interest example takes into account a 20% down payment for a Jumbo Mortgage Fixed Rate Loan of $727,000 at 30 years at 6.5000%, you would make 360 payments of $4,595.13. Payment amount does not include taxes and insurance. Actual payment amount will be greater.
2Rate is variable with an initial rate adjustment cap of 2%, a subsequent rate adjustment cap of 1% and a lifetime maximum cap of 6%. Other restrictions may apply.
3Rate is variable with a periodic cap of 2 percentage points above the index every 5 years with a lifetime maximum cap of 5 percentage points above the original rate. Other restrictions may apply.
5 yr./5 yr. Adjustable Rate Mortgage of $648,000 at 30 years at 6.125%, you would make 60 fixed payments of $3937.32 at 6.190% APR. After that, the fully indexed rate of 6.125% will apply to the remaining 300 payments and may vary every five years. Payment amount does not include taxes and insurance. Actual payment amount will be greater.