Adjustable Rate Mortgage

3-year fixed-to-adjustable rate: Initial 6.003% is fixed for 3 years, then adjusts annually based on an index and margin. For a 30-year loan of $300,000, you would make 36 payments of $1,656.61 APR, followed by 324 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.

In most of the country, the maximum conforming loan limit for one-unit properties is $806,500. In "high-cost" areas, the maximum conforming limit may be up to $1,209,750. The "high-cost" areas loan limits are established annually by the Federal Housing Finance Agency (FHFA). These higher limits are designed to make homeownership more affordable in areas with the highest home prices.

3-year fixed-to-adjustable rate: Initial 6.003% is fixed for 3 years, then adjusts annually based on an index and margin. For a 30-year loan of $300,000, you would make 36 payments of $1,656.61 APR, followed by 324 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.

In most of the country, the maximum conforming loan limit for one-unit properties is $806,500. In "high-cost" areas, the maximum conforming limit may be up to $1,209,750. The "high-cost" areas loan limits are established annually by the Federal Housing Finance Agency (FHFA). These higher limits are designed to make homeownership more affordable in areas with the highest home prices.

3-year fixed-to-adjustable rate: Initial 6.003% is fixed for 3 years, then adjusts annually based on an index and margin. For a 30-year loan of $300,000, you would make 36 payments of $1,656.61 APR, followed by 324 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.

In most of the country, the maximum conforming loan limit for one-unit properties is $806,500. In "high-cost" areas, the maximum conforming limit may be up to $1,209,750. The "high-cost" areas loan limits are established annually by the Federal Housing Finance Agency (FHFA). These higher limits are designed to make homeownership more affordable in areas with the highest home prices.

Fixed-rate mortgage payment examples assuming a $300,000 loan: 10-year mortgage at 5.472% APR—120 monthly payments at $3,237.24; 15-year mortgage at 5.666% APR—180 monthly payments at $2,451.25; 20-year mortgage at 5.758% APR—240 monthly payments at $2,084.90; and 30-year mortgage at 6.104% APR—360 monthly payments at $1,798.65. Loan payments do not include taxes and insurance.

In most of the country, the maximum conforming loan limit for one-unit properties is $806,500. In "high-cost" areas, the maximum conforming limit may be up to $1,209,750. The "high-cost" areas loan limits are established annually by the Federal Housing Finance Agency (FHFA). These higher limits are designed to make homeownership more affordable in areas with the highest home prices.

3-year fixed-to-adjustable rate: Initial 6.003% is fixed for 3 years, then adjusts annually based on an index and margin. For a 30-year loan of $300,000, you would make 36 payments of $1,656.61 APR, followed by 324 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.

In most of the country, the maximum conforming loan limit for one-unit properties is $806,500. In "high-cost" areas, the maximum conforming limit may be up to $1,209,750. The "high-cost" areas loan limits are established annually by the Federal Housing Finance Agency (FHFA). These higher limits are designed to make homeownership more affordable in areas with the highest home prices.