Woman enjoy nature at house

Special Rate - Limited Time Offer

A vacation home of your own!

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Now you can get a buyer's rate in a seller 's market!

Are you looking for that home away from home? Don’t wait, now is the time!  We can help make your dreams come true with great options and competitive rates on 2nd home financing.

We’re offering a 7/1 ARM at 4.00% (4.487% APR)

This offer is for first mortgages up to $2,000,000.00!

Second Home Mortgages Just Got More Expensive

We can help with a special rate program that can save you money. 

Effective April 1, 2022, Fannie Mae & Freddie Mac have initiated substantial increases for 2nd home loans. 

The Federal Housing Finance Agency (FHFA) announced substantial changes to lending practices for second/vacation homes, which officially took place on April 1, 2022!  These changes include an increase in rates by as much as 1%, as these purchases will now be treated more like an investment property, whereas before they were treated similar to a primary residence, impacting the mortgage rate and down payment requirements

For example, a rate increase of 1% on a $500,000 mortgage causes a loss of $80,000 in buying power or an increase of $400 to the monthly payment.  Down payment requirements increasing from 10% to potentially 20%, significantly reduces buying power, even more, allowing fewer people to qualify for a mortgage on a second/vacation home.

So, if you’re looking to buy that home away from home, take advantage of this special Jeanne D’Arc program today! 

The saving power of having a 7/1 ARM

With mortgage rates rising — and the recent changes to second home mortgages, the 7/1 ARM could be just what you need to secure that vacation home.

Because the APR on a variable-rate mortgage is typically lower than a fixed-rate mortgage, it allows the borrower to lock in at a lower rate for some period of time before it adjusts, and that means lower monthly payments.

Below is an example of how this special rate can work for you.

Rates in the example used below are subject to change at any time and may increase.

  • Purchase Price         

    Down Payment        

    Loan Amount           

    Purchase Price         

    Down Payment        

    Loan Amount           

  • Principal & Interest

    Principal & Interest

  • Apply Now

30 Year Fixed at 5.875%** (5.918% APR)

  • Purchase Price         

    Down Payment        

    Loan Amount           

                         $1,000,000

                        -$200,000

                         $800,000

  • Principal & Interest

                         $4,732.30

  • Apply Now

7/1 ARM at 4.00%** (4.487% APR)

  • Purchase Price         

    Down Payment        

    Loan Amount           

                         $1,000,000

                        -$200,000

                         $800,000

  • Principal & Interest

                          $3,819.32

  • You Save $912.98 Per Month!

  • Apply Now

See how much you can save!

You'll love our great rates

Current rates

Mortgages

Rates**

APR

Payment per $1,000*

*Up to 80% Total Loan To Value. Other rates and terms available. Pmt Per $1,000 does not include taxes and insurance if applicable. The actual obligation will be greater than the payment shown.

** Rates are effective September 27, 2022, and are subject to change at any time. Conforming Purchase loan sizes up to $647,200 on one-unit properties. Conforming rates and APR based on $647,200.00 Purchase loan amount with FICO credit scores of 740 and loan to value no greater than 75%. Jumbo rates and APR based on a $647,200.01 Purchase loan amount with FICO credit scores of 740 and loan to value no greater than 75%. For adjustable-rate mortgages, rate may increase after consummation.

10 Year Fixed Conforming

Rates**

5.250%

APR

5.313%

Payment per $1,000*

$10.73

15 Year Fixed Conforming

Rates**

5.500%

APR

5.544%

Payment per $1,000*

$8.17

30 Year Fixed Conforming

Rates**

5.625%

APR

5.651%

Payment per $1,000*

$5.76

30 Year Fixed Jumbo

Rates**

5.625%

APR

5.651%

Payment per $1,000*

$5.76

5/1 ARM

Rates**

5.125%

APR

6.217%

Payment per $1,000*

$5.44

7/1 ARM

Rates**

5.500%

APR

6.200%

Payment per $1,000*

$5.68

FAQs

A 7/1 ARM is an adjustable mortgage rate (ARM) where the starting APR is fixed for a specific period, in this case, 7 years.

  • The starting APR is typically lower than a fixed-rate mortgage. Also, if the interest drops, you will benefit from that without having to refinance.
  • If a borrower plans on being a short-term homeowner and doesn’t envision themselves living in the same house for long, then an ARM mortgage is an ideal choice.

An adjustable rate mortgage is just how it sounds – the actual annual percentage rate (APR) of your mortgage can fluctuate over time. Whereas with a fixed rate mortgage, you are locked in with that rate for the duration of your mortgage.

Because of the low rates associated with an ARM, it could allow you to qualify for a larger loan amount in the future.

APR is the annual percentage rate. This is the cost to borrow money and includes the interest rate but also other associated fees.

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Disclosures

** Rates and APR are effective May 13, 2022, and are subject to change at any time. Purchase loan sizes up to $2,000,000 on one-unit, owner occupied properties only.  Purchase loan amount with FICO credit scores of 740+ and loan to value no greater than 80%. For adjustable-rate mortgages, rate may increase after consummation.

***Up to 80% Total Loan To Value. Other rates and terms available. Payment Per $1,000 does not include taxes and insurance if applicable. The actual obligation may be greater than the payment shown. You must be eligible for membership with Jeanne D’Arc and open a membership account.