SterlingBank&Trust

Mortgage Rates

Adjustable Rate Mortgage Products
 
Loans $417,000 or less
Product RATE* Points APR
1/1 ARM6.000%0.0006.864%
3/1 ARM3.500%0.0003.523%
5/1 ARM3.000%0.0003.010%
 
Jumbos $417,001 and over
Product RATE* Points APR
1/1 Jumbo ARM7.250%1.0007.394%
3/1 Jumbo ARM3.500%0.0003.604%
5/1 Jumbo ARM3.000%0.0003.010%
 
Jumbos $650,001 and over
Product RATE* Points APR
1/1 Jumbo ARM7.250%1.0007.394%
3/1 Jumbo ARM3.500%1.0007.394%
5/1 Jumbo ARM3.000%0.0003.010%
 
Fixed Rate Mortgage Products
Loans $417,000 or less
Product RATE* Points APR
15 YR Fixed2.875%0.0002.939%
30 YR Fixed3.625%0.0003.691%

 

*Annual Percentage Rate (APR) and terms subject to change. The interest rates and terms provided apply to purchase transactions and no cash out refinance transactions only. No cash out refinance transactions mean that you are merely taking your current first mortgage balance and requesting that the entire amount (or a lesser amount) be refinanced at a new rate and/or term. Loan Product availability subject to loan amount. Loans are subject to credit and property approval. Rates and APRs will vary depending on loan details, such as final down payment, points, loan amount, loan-to-value, appraisal, credit, property type, and occupancy. Adjustable Rate Mortgage rates and payments may increase or decrease after the loan is closed due to market-driven changes to the index. Rates and APRs assume that an escrow account is set up for payment of property taxes, hazard insurance, and mortgage insurance if applicable. Property hazard insurance required. Flood insurance may be required. Additional fees and closing costs may apply.


Representative Loan Examples

Loan Assumptions: Loan examples are based on the purchase/refinance of a primary residence single family home with 360 monthly principal and interest payments and no prepayment penalty. We assumed closing costs are paid out of pocket and a credit score in good standing. Actual payments will vary based on each individual situation and current rates. Payments do not include amounts property taxes and hazard / flood insurance. The APR assumes 15 days interest paid at closing as well as other fees associated with granting the loan request, including a 1% Loan Origination Fee. The Adjustable Rate Mortgage payment adjustments are based on the current One Year LIBOR index rate plus 3.5% margin.

30-Year Fixed-Rate Mortgage Loan Example: The principal and interest monthly payment on a $200,000 30-year fixed-rate loan at 5.125% and 80% loan-to-value (LTV) is $1,088.97 with no points due at closing. The Annual Percentage Rate (APR) is 5.285%.

1/1 Adjustable-Rate Mortgage (ARM) Loan Example: The initial principal and interest monthly payment on a 30-year $200,000 1/1 adjustable-rate loan at 6.000% and 80% loan-to-value (LTV) is $1,199.10. After one year, the principal and interest would adjust to $1,046.63 and can increase or decrease annually thereafter based on the One Year LIBOR index plus margin. The Annual Percentage Rate (APR) is 5.015%.

3/1 Adjustable-Rate Mortgage (ARM) Loan Example: The initial principal and interest monthly payment on a 30-year $200,000 3/1 adjustable-rate loan at 4.875% and 80% loan-to-value (LTV) is $1,058.42. After three years, the principal and interest would adjust to $1,044.41 and can increase or decrease annually thereafter based on the One Year LIBOR index plus margin. The Annual Percentage Rate (APR) is 4.938%.

5/1 Adjustable-Rate Mortgage (ARM) Loan Example: The initial principal and interest monthly payment on a 30-year $200,000 5/1 adjustable-rate loan at 4.375% and 80% loan-to-value (LTV) is $998.57. After five years, the principal and interest would adjust to $1,037.43 and can increase or decrease annually thereafter based on the One Year LIBOR index plus margin. The Annual Percentage Rate (APR) is 4.768%.



We offer a wide variety of loan options. We encourage you to apply for a loan to see if you qualify for one of our loan products. Please call (415) 970-9889 to talk to a Sterling Bank & Trust loan officer.