If you need a loan over $510,4001, a Jumbo mortgage is the right choice for you. A Webster Banker can help you find a competitive fixed or variable interest rate.
Rates as of Friday, June 05, 2020
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What is a Jumbo Mortgage?
This mortgage is for loan amounts over $510,4001 on single family properties. A Webster Mortgage Banking Officer can help you find a flexible lending option for your needs.
What are "points?"
Points provide a way for you to lower the interest rate, and in turn lower your monthly mortgage payment. One mortgage point is equal to 1% of your mortgage amount. For example, on a $200,000 loan, one mortgage point is equal to $2,000. You can pay 1 point, or $2,000, at closing in exchange for a lower interest rate over the life of your loan.
What's the difference between APR and interest rate?
Your APR, or annual percentage rate, reflects your interest rate plus any fees that you pay to obtain your loan. Your interest rate is simply the annual cost of your loan expressed as a percentage. This doesn’t factor in the fees you paid to originally obtain your loan.
1. Jumbo Mortgage: Annual Percentage Rate (APR) on a Webster Jumbo mortgage is listed as an example only and does not represent a guaranteed rate by Webster bank. Rate quoted is valid as of the effective date listed on the Jumbo mortgage page. Rates are subject to change at any time. Please call 1-877-647-5137 or visit WebsterBank.com to check the latest rates. Rate assumes a loan amount of $510,400 or greater and automatic payments (ACH) made from a Webster personal checking account. There are no ACH discounts for loan amounts over $1,000,000. This discount does not apply to all mortgage products. Quoted rate displayed for 30 Year Fixed Jumbo mortgage is for loan amount greater than $510,400. Quoted rate displayed for 15 Year Fixed Jumbo mortgage is for loan amount greater than $510,400. All loans are subject to the credit approval process. This offer is subject to change without notice and may be withdrawn at any time. Rate assumes purchase of a primary residence, single family property.
- Featured Rates include 0.125% off the rate with an automatic payment deduction (ACH) from a Webster Bank Personal Checking account, for loan amounts up to $1,000,000. There are no ACH discounts for loan amounts over $1,000,000. This discount does not apply to Government Assisted Mortgages. ACH offer is subject to change without notice and may be withdrawn at any time.
- The payment amount shown includes principal and interest. Your actual payment will be higher if escrow payments for property taxes and/or insurance are made in addition to the regularly scheduled loan payment.
- Combined Loan to Value (CLTV) up to 80% for certain mortgage products, property types and loan amounts.
- Mortgages are available in CT, MA, NY & RI.
- Rate assumes purchase of a primary residence, single family property.
- Actual rates may vary based on credit qualifications, loan amount, CLTV, term and geography. Rates are subject to change on a daily basis.
- All loans are subject to the normal credit approval process.
- APR assumes 20% down payment for a single family property and a Loan Origination fee of $950. APR also includes 0% - 2.0% (points) of the loan amount depending on which rate option is selected.
- Adjustable Rate mortgage products interest rates based on the average of the London Interbank Offered Rates (LIBOR) for one year dollar deposit is as published in The Wall Street Journal.