5/1 Fixed/Adjustable Rate
Our 5/1 fixed/adjustable rate mortgage loan offers a lower starting interest rate than a traditional fixed-rate loan, which can help you qualify for a higher-priced home. The first five years of this loan are at a fixed rate, and then adjusted annually based on the weekly average of the 1-year Constant Maturity Treasury (CMT) index.
This loan may be a good choice if you:
- Know your income will increase in the coming years
- Plan to own your home for five years or less
- Want the stability of a fixed payment early in the loan
Features
- Conforming loans: finance up to 95% for primary residence detached homes and 90% for condominiums
- Jumbo loans: finance up to 90% for primary residence detached homes and condominiums
- Low fees
- Free 45-day rate lock
- No prepayment penalty
5/1 CMT ARM (Conforming)
(Maximum Loan: $417,000)
| Rate | Points | Margin | Caps | Index | APR | Est. Pymt.
/$1,000 |
| 6.125 | 0.000 | 2.625 | 2/2/5 | 1.120 | 4.60% | $6.08 |
| 6.000 | 0.250 | 2.625 | 2/2/5 | 1.120 | 4.57% | $6.00 |
| 5.875 | 0.500 | 2.625 | 2/2/5 | 1.120 | 4.55% | $5.92 |
5/1 CMT ARM (Jumbo)
(Maximum Loan: $1,500,000)
| Rate | Points | Margin | Caps | Index | APR | Est. Pymt.
/$1,000 |
| 7.625 | 0.000 | 2.750 | 5/2/5 | 1.120 | 5.30% | $7.08 |
| 7.500 | 0.250 | 2.750 | 5/2/5 | 1.120 | 5.27% | $6.99 |
| 7.375 | 0.500 | 2.750 | 5/2/5 | 1.120 | 5.24% | $6.91 |
The rates quoted above apply to a 30-year term and are effective as of 11/19/2008. They are not guaranteed until locked, and are subject to change without notice. 40-year term requires adding .125% to applicable ARM rates.
The Annual Percentage Rates (APRs) are based on a loan amount of $350,000
for the stated term and a Loan-to-Value of 80%.
Not applicable to pre-approvals without property selected.
To speak to a real estate loan consultant, please call
714/258-4000 or 800/462-8328, extension 8236.
Consultants are available Monday - Friday, from
8 a.m. to 7 p.m., and Saturday, from 9 a.m. to 3 p.m.
