Jumbo Mortgage

Loan amounts: $417,001 — $1,500,000

Maximum loan to value ratio:
Purchase
• 90% for amounts $417,001 - $650,000
• 80% for amounts $650,001 - $1,500,000
Refinance
• 90% - No cash (subject to loan limits listed above)
• 75% - with Cash

Fixed Terms:
• 10-30 years

Adjustable Terms:
• 30 year term only
• 1 year ARM, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM, Interest First (10/20) & (15/15)

Closing Costs:
• Estimated at 3% of the amount you borrow for attorney fees, title insurance, mortgage, recording fees, .25% commitment fee, etc.
• We will require funding of an escrow account for the payment of Real Estate Taxes, Homeowners insurance, Flood Insurance (if applicable), and Private Mortgage Insurance (if applicable).

Rate Lock-Ins:
• Closing rate is set 48 hours prior to closing if a lock-in has not been selected
• 30 day rate lock: ½ point, non refundable fee
• 60 day rate lock: 1 point, non-refundable fee
• 90 day rate lock: 1 ½ points, non-refundable fee

Rate Buy-Downs
• 1 Point = ¼% Rate Reduction
• 2 Points = ½% Rate Reduction