Jumbo mortgages provide financing solutions for loan amounts higher than the maximum conforming limits announced by Fannie Mae, currently at $647,200 nationwide for single family properties. Choose between fixed, variable or interest-only options for your big mortgage needs.
11/30/2022 Jumbo Adjustable-Rate Mortgages¹
11/30/2022 Jumbo Fixed-Rate Mortgages¹
30 year fixed
15 year fixed
Note that down payment is not included in the calculation.
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This mortgage is for loan amounts over $647,2001 on single family properties. A Webster Mortgage Banking Officer can help you find a flexible lending option for your needs.
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.
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.