Maybe you need more room for your growing family. Maybe you want to live in a specific neighborhood – or even by the beach. A Jumbo Mortgage lets you borrow more so you can buy a higher-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 - No Closing Costs Up to 2% of Amount Financed*||7.250%||7.253%||0.000|
|20 Year - No Closing Costs Up to 2% of Amount Financed*||7.375%||7.378%||0.000|
|30 Year - No Closing Costs Up to 2% of Amount Financed*||7.500%||7.502%||0.000|
|Jumbo Adjustable Rate Mortgage||Rate||APR||Points|
|3 yr./6 mo. ARM2||6.875%||7.034%||0.000|
|3 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed*||7.125%||7.673%||0.000|
|5 yr./6 mo. ARM2||7.125%||7.704%||0.000|
|5 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed*||7.375%||7.741%||0.000|
|5 yr./5 yr. ARM3||7.250%||7.318%||0.000|
|5 yr./5 yr. ARM3 _ No closing costs up to 2% of amount financed*||7.500%||7.502%||0.000|
|7 yr./6 mo. ARM2||7.250%||7.723%||0.000|
|7 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed*||7.500%||7.789%||0.000|
|10 yr./6 mo. ARM2||7.250%||7.598%||0.000|
|10 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed*||7.500%||7.700%||0.000|
– Sylvester B.
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Power Financial Credit Union Home Buyer’s Guide
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 6.750%, you would make 360 payments of $4,799.63. 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 6.750%, you would make 60 fixed payments of $4,799.63 at 6.816% APR. After that, the fully indexed rate of 6.750% 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.
**Conditions and restrictions apply. See Credit Union for details.
Rates and offers are subject to change without notice.