If you need a loan over $484,3501, 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 Sunday, October 13, 2019
Own your home in 30 days! Go from contract to closing in just 30 days—guaranteed—or we’ll give you a $1,000 credit on your closing costs.*
Own your home in 30 days! Go from contact to closing in just 30 days—guaranteed—or we’ll give you a $1,000 credit on your closing costs.*
Calculate Your Rate and Estimate Your Monthly Payment
Get to know how the mortgage process works from application to closing
What is a Jumbo Mortgage?
This mortgage is for loan amounts over $484,3501 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.
*Terms and Conditions
Webster’s 30 Day Mortgage Loan Closing Guarantee (“Mortgage Loan Closing Guarantee”), guarantees closing within 30 days of completed mortgage application submission to a Webster Bank Mortgage Banking Officer.
If after receipt of your Completed Mortgage Loan Application, we do not meet the Mortgage Loan Closing Guarantee, Webster will provide you, the applicant(s) with a closing cost credit equal to $1,000.00.
A “Completed Mortgage Loan Application” is defined as an oral or written request for credit in which Webster received all “required information and documentation” to evaluate the application for the amount and type of credit requested. Required information and documentation may include (but not be limited to) a Completed Mortgage Loan Application; a fully executed offer to purchase and/or purchase and sale agreement; Satisfactory income documentation required for your selected purchase mortgage program; Asset documentation as required for your selected purchase mortgage program; Required upfront fees paid at time of application for appraisal and credit report; Signed 4506T and Borrower’s Authorization. You, the applicant(s), are responsible for providing Webster the required information and documentation to satisfy the Completed Mortgage Loan Application criteria. Any delays due to an incomplete application, delays caused by applicants should additional documentation be required after initial loan submission and/or delays related to purchase contract requirements are not covered by the Mortgage Loan Closing Guarantee. The Mortgage Loan Closing Guarantee does not cover delays caused by the applicant or third parties providing information and/or documentation on behalf of applicant(s).
To be eligible for the Mortgage Loan Closing Guarantee, the Completed Mortgage Loan Application must be for a 1 to 4 family, primary residence or second home for residential properties located in CT, RI, MA and Westchester County, NY. Loan amounts over $1,000,000 are excluded.
Additional Exclusions: Mortgage loan refinances; Loans secured by Condos; Construction loans; Short Sales; Land Loans; Cooperatives; Closing delays due to non-marketable title; Delays caused by applicant(s) should additional documentation be required after initial loan submission; Product changes, counteroffers, loan type changes. FHA, VA, and state agency government loans are excluded but will be eligible for a closing cost rebate, see a Webster banker for more information.
All Completed Mortgage Loan Applications are subject to credit approval. Only closed and funded loans for which the Bank did not meet the Mortgage Loan Closing Guarantee qualify for the $1,000.00 closing credit. This offer may be withdrawn at any time without notice and may not be combined with any other offers. Please consult a Webster Mortgage Banking Officer for more details.
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 $484,350 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 $484,350. Quoted rate displayed for 15 Year Fixed Jumbo mortgage is for loan amount greater than $484,350. 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.