LIBOR Adjustable Rate Mortgages |
1 Year LIBOR ARM Conforming |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1-4 unit Investment |
| Maximum Loan Amount |
View our current loan limits |
| Maximum Loan to Value (LTV) |
Depends on the number of units and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
80% - 95%
80% - 95%
70% - 90% |
| Margin |
2.25% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1-4 unit Investment Properties
>Condominiums
>Planned Unit Developments
>Manufactured Homes may not be eligible, please contact a Mortgage Consultant |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
11.00% |
| Adjustment Details |
Adjusts Annually. Annual rate adjustments cannot exceed 2% per year with a lifetime cap of 11% above the initial interest rate. |
| |
|
1 Year LIBOR ARM Jumbo |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1 unit Investment |
| Maximum Loan Amount |
Up to $650,000 depending on the number of units and whether primary residence or second home. Larger loan amounts available by request on an individual case basis. |
| Maximum Loan to Value (LTV) |
Depends on the number of units, loan amount and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
60% - 90%
60% - 90%
60% - 85% |
| Margin |
2.25% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1 unit Investment Properties
>Condominiums
>Planned Unit Developments |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
11.00% |
| Adjustment Details |
Adjusts annually. Annual rate adjustments cannot exceed 2% per year with a lifetime cap of 11% above the initial interest rate. |
| |
|
3/1 LIBOR ARM Conforming |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1-4 unit Investment |
| Maximum Loan Amount |
View our current loan limits |
| Maximum Loan to Value (LTV) |
Depends on the number of units and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
80% - 95%
80% - 95%
70% - 90% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1-4 unit Investment Properties
>Condominiums
>Planned Unit Developments
>Manufactured Homes may not be eligible, please contact a Mortgage Consultant |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
6.00% |
| Adjustment Details |
A fixed interest rate for the first 3 years, which then may adjust annually. Annual rate adjustments cannot exceed 2% per year with a lifetime cap of 6% above the initial interest rate. |
| |
|
3/1 LIBOR ARM Jumbo |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1 unit Investment |
| Maximum Loan Amount |
Up to $650,000 depending on the number of units and whether primary residence or second home. Larger loan amounts available by request on an individual case basis. |
| Maximum Loan to Value (LTV) |
Depends on the number of units, loan amount and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
60% - 90%
60% - 90%
60% - 85% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1 unit Investment Properties
>Condominiums
>Planned Unit Developments |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
6.00% |
| Adjustment Details |
A fixed interest rate for the first three years, which then may adjust annually. Annual rate adjustments cannot exceed 2% per year with a lifetime cap of 6% above the initial interest rate. |
| |
|
5/1 LIBOR ARM Conforming |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1-4 unit Investment |
| Maximum Loan Amount |
View our current loan limits |
| Maximum Loan to Value (LTV) |
Depends on the number of units and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
80% - 95%
80% - 95%
70% - 90% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1-4 unit Investment Properties
>Condominiums
>Planned Unit Developments
>Manufactured Homes may not be eligible, please contact a Mortgage Consultant |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
5.00% |
| Adjustment Details |
A fixed interest rate for the first 5 years, which then may adjust annually. The first adjustment cannot exceed 5%. Annual rate adjustments thereafter cannot exceed 2% with a lifetime cap of 5% above the initial interest rate. |
| |
|
5/1 LIBOR ARM Jumbo |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1 unit Investment |
| Maximum Loan Amount |
Up to $650,000 depending on the number of units and whether primary residence or second home. Larger loan amounts available by request on an individual case basis. |
| Maximum Loan to Value (LTV) |
Depends on the number of units, loan amount and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
60% - 90%
60% - 90%
60% - 85% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1 unit Investment Properties
>Condominiums
>Planned Unit Developments |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
5.00% |
| Adjustment Details |
A fixed interest rate for the first 5 years, which then may adjust annually. The first adjustment cannot exceed 5%. Annual rate adjustments thereafter cannot exceed 2% per year with a lifetime cap of 5% above the initial interest rate |
| |
|
7/1 LIBOR ARM Conforming |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1-4 unit Investment |
Maximum Loan
Amount |
View our current loan limits |
| Maximum Loan to Value (LTV) |
Depends on the number of units and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
80% - 95%
80% - 95%
70% - 90% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1-4 unit Investment Properties
>Condominiums
>Planned Unit Developments
>Manufactured Homes may not be eligible, please contact a Mortgage Consultant |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
5.00% |
| Adjustment Details |
A fixed interest rate for the first 7 years, which then may adjust annually. The first adjustment cannot exceed 5%. Annual rate adjustments thereafter cannot exceed 2% with a lifetime cap of 5% above the initial interest rate. |
| |
|
7/1 LIBOR ARM Jumbo |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1 unit Investment |
| Maximum Loan Amount |
Up to $650,000 depending on the number of units and whether primary residence or second home. Larger loan amounts available by request on an individual case basis. |
| Maximum Loan to Value (LTV) |
Depends on the number of units, loan amount and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
60% - 90%
60% - 90%
60% - 85% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1 unit Investment Properties
>Condominiums
>Planned Unit Developments |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
5.00% |
| Adjustment Details |
A fixed interest rate for the first 7 years and then may adjust annually. The first adjustment cannot exceed 5%. Annual rate adjustments thereafter cannot exceed 2% per year with a lifetime cap of 5% above the initial interest rate. |
| |
|
10/1 LIBOR ARM Conforming |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1-4 unit Investment |
| Maximum Loan Amount |
View our current loan limits |
| Maximum Loan to Value (LTV) |
Depends on the number of units and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
80% - 95%
80% - 95%
70% - 90% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1-4 unit Investment Properties
>Condominiums
>Planned Unit Developments
>Manufactured Homes may not be eligible, please contact a Mortgage Consultant |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
5.00% |
| Adjustment Details |
A fixed interest rate for the first 10 years, which then may adjust annually. The first adjustment cannot exceed 5%. Annual rate adjustments thereafter cannot exceed 2% with a lifetime cap of 5% above the initial interest rate. |
| |
|
10/1 LIBOR ARM Jumbo |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied, Non-Owner Occupied |
| Number of Units |
1-4 units if Primary Residence, 1 unit if Second Home, 1 unit Investment |
| Maximum Loan Amount |
Up to $650,000 depending on the number of units and whether primary residence or second home. Larger loan amounts available by request on an individual case basis. |
| Maximum Loan to Value (LTV) |
Depends on the number of units, loan amount and whether primary residence or second home. |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
60% - 90%
60% - 90%
60% - 85% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>1 unit Investment Properties
>Condominiums
>Planned Unit Developments |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
5.00% |
| Adjustment Details |
A fixed interest rate for the first 10 years, which then may adjust annually. The first adjustment cannot exceed 5%. Annual rate adjustments thereafter cannot exceed 2% per year with a lifetime cap of 5% above the initial interest rate. |
| |
|
Interest Only Adjustable Rate Mortgages |
3/1 Interest Only LIBOR ARM Conforming |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied |
| Number of Units |
1 unit if Primary Residence, 1 unit if Second Home |
| Maximum Loan Amount |
View our current loan limits |
| Maximum Loan to Value (LTV) |
Depends on the number of units and whether primary residence or second home |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
80% - 90%
80% - 90%
70% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>Condominiums
>Planned Unit Developments
>Manufactured Homes may not be eligible, please contact a Mortgage Consultant. |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
6.00% |
| Adjustment Details |
A fixed interest rate for the first 3 years, but interest only payments will be made for the first 10 years. Rate then may adjust annually. The first adjustment cannot exceed 2% per year with a lifetime cap of 6% above the initial interest rate. |
| |
|
5/1 Interest Only LIBOR ARM Conforming |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied |
| Number of Units |
1 unit if Primary Residence, 1 unit if Second Home |
| Maximum Loan Amount |
View our current loan limits |
| Maximum Loan to Value (LTV) |
Depends on the number of units and whether primary residence or second home |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
80% - 90%
80% - 90%
70% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>Condominiums
>Planned Unit Developments
>Manufactured Homes may not be eligible, please contact a Mortgage Consultant. |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
5.00% |
| Adjustment Details |
A fixed interest rate for the first 5 years, but interest only payments will be made for the first 5 years. Rate then may adjust annually. The first adjustment cannot exceed 5%. Annual rate adjustments thereafter cannot exceed 2% with a lifetime cap of 5% above the initial interest rate. |
| |
|
7/1 Interest Only LIBOR ARM Conforming |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied |
| Number of Units |
1 unit if Primary Residence, 1 unit if Second Home |
| Maximum Loan Amount |
View our current loan limits |
| Maximum Loan to Value (LTV) |
Depends on the number of units and whether primary residence or second home |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
80% - 90%
80% - 90%
70% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>Condominiums
>Planned Unit Developments
>Manufactured Homes may not be eligible, please contact a Mortgage Consultant.
|
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
5.00% |
| Adjustment Details |
A fixed interest rate for the first 7 years, but interest only payments will be made for the first 7 years. Rate then may adjust annually. The first adjustment cannot exceed 5%. Annual rate adjustments thereafter cannot exceed 2% with a lifetime cap of 5% above the initial interest rate. |
| |
|
10/1 Interest Only LIBOR ARM Conforming |
| Loan Term |
30 Years |
| Prepayment Penalty |
None |
| Occupancy Requirement |
Owner Occupied |
| Number of Units |
1 unit if Primary Residence, 1 unit if Second Home |
| Maximum Loan Amount |
View our current loan limits |
| Maximum Loan to Value (LTV) |
Depends on the number of units and whether primary residence or second home |
| |
Purchase:
Limited or no cash out refinance:
Cash-out refinance: |
80% - 90%
80% - 90%
70% |
| Margin |
2.50% |
| Index |
1 Year LIBOR |
| Eligible Properties |
>1-4 Family
>1 unit Second Homes
>Condominiums
>Planned Unit Developments
>Manufactured Homes may not be eligible, please contact a Mortgage Consultant. |
| Periodic Adjustment Cap |
2.00% |
| Lifetime Adjustment Cap |
5.00% |
| Adjustment Details |
A fixed interest rate for the first 10 years, but interest only payments will be made for the first 10 years. Rate then may adjust annually. The first adjustment cannot exceed 5%. Annual rate adjustments thereafter cannot exceed 2% with a lifetime cap of 5% above the initial interest rate. |
State Farm Bank®
Equal Housing Lender
