August 25th, 2022 - Jumbo Interest Rates
Rates subject to change without notice. All applicants subject to credit approval. Property subject to acceptable appraisal.
5/6 SOFR ARM*
Loan: ≥$647,200 - $2,000,000
LTV: ≤70%*
DTI: ≤43%
Interest rate: 5.375%
APR**: 5.311%
(Rates include a 0.375% credit towards closing costs.)
Caps: 2/1/5
(LTV 70.01%-80% add .125%)
7/6 SOFR ARM
Loan: ≥$647,200 - $2,000,000
LTV: ≤70%
DTI: ≤43%
Interest rate: 5.500%
APR: 5.387%
(Rates include a 0.375% credit towards closing costs.)
Caps: 5/1/5
(LTV 70.01%-80% add .125%)
10/6 SOFR ARM
Loan: ≥$647,200 - $2,000,000
LTV: ≤70%
DTI: ≤43%
Interest rate: 5.750%
APR: 5.587%
(Rates include a 0.25% credit towards closing costs.)
Caps: 5/1/5
15/6 SOFR ARM
Loan: ≥$647,200 - $2,000,000
LTV: ≤70%
DTI: ≤43%
Interest rate: 5.875%
APR: 5.775%
(Rates include a 0.25% credit towards closing costs.)
Caps: 5/1/5
*SOFR ARM: Secured Overnight Financing Rate Adjustable Rate Mortgage
The Secured Overnight Financing Rate (SOFR), is based on actual transactions in the Treasury repurchase (repo) market, one of the largest markets in the world. This is the market where investors offer borrowers overnight loans backed by their U.S. Treasury bond assets.
**APR: Annual Percentage Rate
The Annual Percentage Rate (APR) is the cost one pay each year to borrow money, including fees. It is expressed as a percentage.
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Questions?
Reach out any time. We’re here to help you find the best mortgage program for your unique conditions.
Contact us:
847-634-2252
info@longgrovemortgage.com
Or start an application.
