Home Loan Rates
Fixed-Rate Mortgages
Fixed-Rate Mortgage – Conforming (up to $726,200)1,2
| Product | Rate as low as | Discount Points | APR as low as | Payment per $1000 |
|---|---|---|---|---|
| 15 Year | 5.500% | 0 | 5.500 | $8.17 |
| 30 Year | 5.875% | 0 | 5.875 | $5.92 |
| 30 Year VA | 5.625% | 0 | 5.653 | $5.76 |
| 30 Year FHA | 5.625% | 0 | 5.653 | $5.76 |
Fixed Rate Mortgage – Non-Owner Occupied4
Fixed Rate Mortgage – High Balance (up to $948,750)2
| Product | Rate as low as | Discount Points | APR as low as | Payment per $1000 |
|---|---|---|---|---|
| 15 Year | 6.875% | .50 | 7.165 | $8.92 |
| 30 Year | 6.875% | .50 | 7.150 | $6.57 |
Fixed Rate Mortgage – Jumbo (up to $4,000,000)
| Product | Rate as low as | Discount Points | APR as low as | Payment per $1000 |
|---|---|---|---|---|
| 15 Year | 6.250% | .0 | 6.275 | $8.57 |
| 30 Year | 6.250% | .0 | 6.265 | $6.16 |
Home Equity Loans – Fixed Rate 2nd3
Adjustable Rate Mortgages (ARM) 5
Conforming/No Closing Costs 5/1 ARM (up to $726,200)
| Product | Rate | APR | Points | Margin | Index | Caps Est | Payment per $1000 |
|---|---|---|---|---|---|---|---|
| 5/6M | 5.875% | 7.560% | .00 | 2.75% | 5.347% | 2/1/5 | $5.92 |
| 7/6M | 6.000% | 7.390% | .00 | 2.75% | 5.347% | 5/1/5 | $6.00 |
High Balance/No Closing Costs 5/1 ARM (up to $948,750)
| Product | Rate | APR | Points | Margin | Index | Caps Est | Payment per $1000 |
|---|---|---|---|---|---|---|---|
| 5/6M | 6.875% | 7.868% | .50 | 2.75% | 5.347% | 2/1/5 | $6.57 |
| 7/6M | 6.875% | 7.750% | .50 | 2.75% | 5.347% | 5/1/5 | $6.57 |
Jumbo (up to $4,000,000)
| Product | Rate | APR | Points | Margin | Index | Caps Est | Payment per $1000 |
|---|---|---|---|---|---|---|---|
| 5/6M | 6.250% | 7.644% | .0 | 2.75% | 5.347% | 2/1/5 | $6.16 |
| 7/6M | 6.250% | 7.465% | .0 | 2.75% | 5.347% | 5/1/5 | $6.16 |
Conforming (up to $726,200)6
| Product | Rate | APR | Points | Margin | Index | Caps Est | Payment per $1000 |
|---|---|---|---|---|---|---|---|
| 5/5 | 6.875% | 6.516% | .0 | 2.75% | 3.730% | 5/2/5 | $6.57 |
Jumbo (up to $2,000,000)
| Product | Rate | APR | Points | Margin | Index | Caps Est | Payment per $1000 |
|---|---|---|---|---|---|---|---|
| 5/5 | 6.250% | 6.436% | .0 | 2.75% | 3.730% | 5/2/5 | $6.16 |
Home Equity Line of Credit7 – 2.99% 12-Month Intro Rate!
| CLTV | Prime | Points | Rate | APR* | Payment per $1000 |
|---|---|---|---|---|---|
| CLTV < 70% | Prime + .50 | 0 pts | 8.25% | 8.25% | $9.70 |
| CLTV 70.01%-80% | Prime + .75 | 0 pts | 8.50% | 8.50% | $9.85 |
| CLTV 80.01%-90% | Prime + 1.50 | 0 pts | 9.25% | 9.25% | $10.29 |
- FIXED RATE rates and APRs based on an owner-occupied, single-family home, a loan amount of $766,550
(conforming) or $954,500 (high balance), a maximum LTV of 95% on purchases and 95% on refinances, a
credit score above 620, 1.000 points paid and approximate pre-paid finance charges of $2,417. A no lender cost
option available. - For FIXED RATE non-owner-occupied property maximum LTV 70%. Not all products are available for non-owner occupied properties.
- Rates and APRs based on an owner-occupied, single-family home, a loan amount of $50,000, a maximum LTV of
80%, credit score above 620 and approximate pre-paid finance charges of $1800. - Rate and APR based on conforming loan amount and 70% LTV.
Rates are subject to change without notice. These mortgage rates apply only with certain conditions. Your rate depends on several factors including market conditions, property type, loan purpose, credit score, debt ratio and loan-to-value. The displayed annual percentage rates (APRs) include total points and prepaid finance charges but do not include other closing costs. Loans over 80% LTV require private mortgage insurance.
Rates are not automatically locked in at time of application. Loan rate locks can be requested in writing after your loan has been pre-approved by OceanAir.