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Mortgage Rates

Fixed Rate Mortgage | 8-13-2020

Product Rate APR* Payment*
10 Year Fixed 3.00% 3.19% $1,544.97
15 Year Fixed 2.13% 2.29% $1,038.85
20 Year Fixed 2.38% 2.50% $838.14
30 Year Fixed 2.50% 2.59% $632.19
Important Notice: Due to unprecedented mortgage demand, Rivermark is pausing the acceptance of all refinance applications. We are still accepting applications for mortgage purchases. When we resume accepting refinance applications, it will be for current Rivermark members only. For those who have already applied, please allow up to 2 business days for a return call. Thank you for your continued patience and understanding.
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*All loan applications are subject to credit and property approval. Annual Percentage Rate (APR) effective as the date shown above. Sample monthly payments are based upon a single-family owner-occupied residence with a loan amount of $160,000, 70% Loan-to-Value, Origination Fee is 0.75% of the loan amount, and standard 3rd party charges (e.g. appraisal and title). Assumes no other loans or liens on subject property. Primary borrower having an open Rivermark checking account and debit card at time of closing will receive $300 off the origination fee. Actual APRs for individual loans may differ due to market conditions, individual circumstances such as credit qualifications, increased loan to value, loan purpose (such as investment property) and property type. Maximum APR is 8.00%. Sample monthly payment listed above does not include taxes and insurance premiums. Property and/or flood hazard insurance may be required. Actual payment obligation will be greater. Maximum loan limits may apply.

 

Adjustable Rate Mortgage | 8-13-2020

Product Rate APR* Payment
5/1 ARM 3.00% 3.82% $674.57
7/1 ARM 3.13% 3.75% $685.40
10/1 ARM 3.25% 3.76% $696.33
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All loan applications are subject to credit and property approval.

5/1 ARM Fixed for 60 months, adjusts no more than 2% annually thereafter. Rate increases are limited to a maximum of 5% over the initial rate during the lifetime of the loan.

7/1 ARM Fixed for 84 months, adjusts no more than 2% annually thereafter. Rate increases are limited to a maximum of 5% over the initial rate during the lifetime of the loan.

10/1 ARM Fixed for 120 months, adjusts no more than 2% annually thereafter. Rate increases are limited to a maximum of 5% over the initial rate during the lifetime of the loan.

*APRs and payment calculations are based upon a single-family owner-occupied residence with a loan amount of $160,000, 70% Loan-to-Value, Origination Fee is .75% of the loan amount, and standard 3rd party charges (e.g. appraisal and title). Assumes no other loans or liens on subject property. Primary borrower having an open Rivermark checking account and debit card at time of closing will receive $300 off the origination fee. Assumes no other loans or liens on subject property. Actual APRs for individual loans may differ due to individual circumstances such as credit qualifications, increased loan to value, loan purpose (such as investment property) and property type. Adjustable-Rate Mortgage (ARM) interest rates and payments are subject to change during the loan term.  That change can increase or decrease your monthly payment.

Representative payments listed above do not include taxes and insurance premiums. Property and/or flood hazard insurance may be required. Actual payment obligation will be greater. 

Maximum loan limits may apply. Interest rates and APRs offered are subject to change without notice.

100% Combo Loan | 8-13-2020

Product Rate APR* Payment
5/1 ARM Combo 3.13% 3.97% $685.40
20 Year Fixed HELOC 5.99% 5.99% $286.34
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*Available for primary residence purchases only up to 100% LTV. Applicants must meet credit and ability to repay requirements. This is an 80/20 mortgage loan. A first mortgage (5/1 ARM) of $160,000 at 3.13% with an APR of 3.97% has principal and interest payments of $685.40 for 60 months. Adjusts no more than 2% annually after 60 months. Rate increases are limited to a maximum of 6% over the initial rate during the lifetime of the loan.  A second mortgage of $50,000 borrowed at 5.99% with an APR of 5.99% will have principal and interest payments of $286.34 for 240 months. Tax and insurance payments not included in examples. Property hazard insurance is required. 3% seller concessions allowed with 2 months PITI reserves. 0% seller concessions without 2 months reserves. No gift funds allowed towards closing costs. Escrow account required for taxes and insurance. Origination Fee is .75% of the loan amount, and standard 3rd party charges (e.g. appraisal and title). Assumes no other loans or liens on subject property. Primary borrower having an open Rivermark checking account and debit card at time of closing will receive $300 off the origination fee.  Actual APRs for individual loans may differ due to individual circumstances such as credit qualifications, increased loan to value, loan purpose (such as investment property) and property type. Adjustable Rate Mortgage (ARM) interest rates and payments are subject to change during the loan term.  That change can increase or decrease your monthly payment. Consult a tax adviser for information regarding the deductibility of interest and charges. Must be a member to borrow.

Jumbo Mortgage | 8-13-2020

Product Rate APR* Payment
Jumbo 5/1 ARM 3.13% 3.82% $2,186.43
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*All loan applications are subject to credit and property approval.

Jumbo 5/1 ARM Fixed for 60 months, adjusts no more than 2% annually thereafter. Rate increases are limited to a maximum of 6% over the initial rate during the lifetime of the loan.
 
APR and payment calculations are based upon a single family, owner occupied residence with a loan amount of $510,401, 69.99% Loan-to-Value, 0.50% origination fee and standard 3rd party charges (e.g. appraisal and title). Assumes no other loans or liens on subject property. Actual APRs for individual loans may differ due to individual circumstances such as credit qualifications, increased loan to value, loan purpose (such as investment property) and property type.

Representative payments listed above do not include taxes and insurance premiums. Property and/or flood hazard insurance may be required. Actual payment obligation will be greater.

Maximum loan limits may apply. Interest rates and APRs offered are subject to change without notice.

Home Equity Loan | 8-13-2020

Term Rate Minimum Loan Amount APR* Payment*
5 Year 3.99% - 10.74% $5,000 4.32% - 11.09% $921 - $1,081
10 Year 4.24% - 11.74% $10,000 4.41% - 11.94% $521 - $710
15 Year 4.49% - 11.99% $15,000 4.61% - 12.14% $382 - $600
20 Year 4.99% - 13.49% $25,000 5.09% - 13.62% $330 - $603
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*Annual Percentage Rates (APRs) are calculated based on a loan amount of $50,000, Combined Loan to Value (CLTV) of up to 80% and a $399 loan fee.  Maximum CLTV subject to collateral and credit qualifications; tiered rates are based on credit qualifications and CLTV. Loan applications are subject to credit and property approval.  Representative payments shown include only Principal and Interest.  Appraisal may be required at an additional cost. Property insurance required; flood insurance may be required.  Maximum loan limits apply.  Other rates and terms are available for Investment Property or Manufactured Home Equity Loans.

Home Equity Line of Credit | 8-13-2020

Term Annual Percentage Rate
10 Year Draw Period 3.99% - 9.74%TV
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Home Equity APRs listed above are for owner-occupied single family residences, are effective as of the above date, and are subject to credit and collateral approval. Home Equity Line of Credit is subject to a Variable Rate which is based on the highest Prime Rate as published in the Money Rates Section of The Wall Street Journal on the 15th day of each month (Index) plus a margin. The Index plus the Margin equals the Interest Rate. Changes in the Index will cause changes in the Interest Rate on the first day of each billing cycle. The Interest Rate will never be less than 3.99% or greater than 18.00%. Closing costs (if applicable) range from $399 to $1,500, including property appraisal and title insurance, if required. Maximum Combined Loan to Value subject to collateral and credit qualifications. Property insurance required. Other rates and terms are available for Investment Property or Manufactured Home Equity Lines of Credit.

V = Variable Rates. T = Tiered Rates. Tiered rates based on credit qualifications.

Fees & Costs: No Annual Fee. No Origination Fee. Title Report & Recording: $100,000 or Less: $399. Over $100,000: Actual Cost over $250. Appraisal may be required at an additional cost.