JUMBO and Construction Rates

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JUMBO and Construction Mortgage Rates

Benefits of a loan from The Equitable Bank:

  • Loan amounts up to $1,000,000 with 20% down
  • Lower down payments available; call for specific details
  • With in-house processing, underwriting and closing we can provide you with a quick approval and closing
 

3 Year ARM

5 Year ARM

10 Year ARM

15 Year Fixed

30 Year Fixed

JUMBO Rates

2.875% 
3.773% APR1

3.000%
3.674% APR2

3.125%
3.494% APR3

3.125%
3.175% APR4

3.250%
3.278% APR5

Construction

Rates

2.875%
3.816% APR6

3.000%
3.709% APR7

3.125%
3.518% APR8


 -

3.250% 
3.290% APR9

View Conventional Mortgage Rates

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Jumbo & Construction Loans: Annual Percentage Rate (APR) is approximate. *All payments assume a $750,000 price and value with a $150,000 down payment and a $600,000 mortgage. Payment does not include amounts for taxes and insurance premiums and the actual payment obligation may be greater. Other rates and programs available. Rate accurate as of 7/9/2021. All rates subject to change without notice.

ARM and Jumbo Loans: 1Payments with an APR of 3.773% for purchase are $2,489.35 for the initial 36 months. After the initial fixed rate period ends, the payment will be $2,831.70 and is based on a fully indexed rate of 4.000% that may be in effect for the remaining 324 payments, and can change once every six months for the remaining life of the loan 2Payments with an APR of 3.674% for purchase are $2,529.62 for the initial 60 months. After the initial fixed rate period ends, the payment will be $2,815.68 and is based on a fully indexed rate of 4.000% that may be in effect for the remaining 300 payments, and can change once every six months for the remaining life of the loan 3Payments with an APR of 3.494% for purchase are $2,570.25 for the initial 120 months. After the initial fixed rate period ends, the payment will be $2,776.95 and is based on a fully indexed rate of 4.000% that may be in effect for the remaining 240 payments, and can change once every six months for the remaining life of the loan. All ARM loans - After the initial fixed-rate term ends, payments will have a variable interest rate and the payment may adjust biannually and will equal the total of the 30-day SOFR index plus a margin of 4.00%. As of 7/9/21, the 30-day SOFR was .039% index as published in the Federal Reserve Bank of New York. Your interest rate cannot increase more than 2% at the first change and not more than 1% every six months thereafter with a maximum lifetime rate increase of 6% above the initial interest rate.

15 Year Fixed JUMBO: 4Payments with an APR of 3.175% for purchase are $4,179.66 for 180 months

30 Year Fixed JUMBO: 5Payments with an APR of 3.278% for purchase are $2,611.24 for 360 months

Construction: 6With an approximate Annual Percentage Rate (APR) of 3.816%, payments during the projected 12 month construction phase will be interest only on the outstanding principal balance. Payments will be at a rate of 2.875% for 12 monthly payments up to $1,437.50, and payments after construction (principal and interest) will be $2,489.35 for 24 months. After the initial fixed rate period ends, the payment will be $2,842.75 and is based on a fully indexed rate of 4.000% that may be in effect for the remaining 336 payments, and can change once every six months for the remaining life of the loan. 7With an approximate Annual Percentage Rate (APR) of 3.709%. Payments during the projected 12 month construction phase will be interest only on the outstanding principal balance. Payments will be at a rate of 3.000% for 12 monthly payments up to $1,500 and payments after construction (principal and interest) will be $2,529.62 for 48 months. After the initial fixed rate period ends. the payment will be $2,825.68 and is based on a fully indexed rate of 4.000% that may be in effect for the remaining 312 payments, and can change once every six months for the remaining life of the loan. 8With an approximate Annual Percentage Rate (APR) of 3.518%, payments during the projected 12 month construction phase will be interest only on the outstanding principal balance. Payments will be at a rate of 3.125% for 12 monthly payments up to $1,562.50 and payments after construction (principal and interest) will be $2,570.25 for 108 months. After the initial fixed rate period ends, the payment will be $2,786.19 and is based on a fully indexed rate of 4.000% that may be in effect for the remaining 252 payments, and can change once every six months for the remaining life of the loan. The fully indexed rate is based on the 30-day SOFR index as published in the Federal Reserve Bank of New York plus a margin of 4.00%, rounded to the nearest 1/8th. As of 7/9/21, the 30-day SOFR was .039%. Payments do not include amounts for taxes and insurance premiums and the actual payment obligations may be greater. Other rates and programs available. Rate accurate as of 7/9/21. All rates subject to change without notice.

30 Year Fixed Construction: 9With an approximate Annual Percentage Rate (APR) of 3.290%, payments during the project 12-month construction phase will be interest only on the outstanding principal balance. Payments will be at a rate of 3.250% for 12 monthly payments up to $1,625.00. Payments after construction (principal and interest) will be $2,611.24 for 360 months for a total loan term of 31 years (372 months). Payments do not include amount for taxes and insurance premiums and the actual payment obligations may be greater. Other rates and programs available. Rate accurate as of 7/9/2021. All rates subject to change without notice.

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