Jumbo Loan Rates
30-Year Fixed Jumbo Loan Rates
Any mortgage that exceeds $453,100 for a one unit property is considered a Jumbo Loan.
| Loan Program | Rate | APR | Discount Points |
|---|---|---|---|
| 30-Year Fixed Jumbo | 4.375 % | 4.408 % | 0.00 |
| 30-Year Fixed Jumbo | 4.125 % | 4.201 % | 0.50 |
| 30-Year Fixed Jumbo | 4.000 % | 4.139 % | 1.25 |
The interest rate is the cost of borrowing the principal loan amount. The APR is the annual cost of a loan including any fees. Thus, the APR is higher than the interest rate.
Discount points are prepaid interest on a mortgage loan. The more points you pay, the lower the interest rate on the loan. Each point is equal to 1% of the loan amount, and points may be tax-deductible.
Whether or not you should pay points depends on how much money you have to put down at closing and how long you plan to stay in the house. If you’re planning to stay in the home for a while, a reduced interest rate makes sense. If you need the lowest possible closing costs, a zero-point option is best for you.
