Jumbo Home Loan Rates as Low As
APR Effective 5/31/2023*
6.361
%
APR
%
APR
Jumbo 30-Year Fixed
6.479
%
APR
%
APR
Jumbo 30-Year Fixed Refinance
6.681
%
APR
%
APR
Jumbo 5 Year ARM (5yr/5yr) Refinance
Adjusts every 5 years
*See important information about rates, fees and other costs
If you've found a home that requires a larger-than-usual loan amount, look into a jumbo loan. Jumbo loans are available in both fixed-rates and ARMs.
Features & Benefits
- Predictable payments
- No origination fee
- Loan amounts over $726,200
- Available in both fixed-rates and ARMs
- Can be used on primary and secondary homes
No Origination Fee
BECU is excited to announce yet another way we can save our members' money: NO origination fee on fixed-rate or adjustable-rate mortgage home loans for purchase and refinance transactions. No origination fee significantly reduces closing costs. And reducing cost is just one more way BECU can help members combat the skyrocketing prices in today's real estate market.
Need help figuring out what Jumbo loan is right for you?
Our Loan Consultant tool can help you find the jumbo loan that fits your needs, and give you information on interest rates and closing costs.
Our Jumbo Loan Programs Include:
Why Choose This
- You need to qualify for the largest loan possible.
- Pro: Fixed rate of interest.
- Con: You end up paying more in interest charges over the life of the loan.
- You plan on staying in the home long-term.
- Pro: Level principal and interest payments for the full term of the loan.
- Con: Benefits of the fixed rate are not realized until after the seventh year (A 7 Year Jumbo ARM is a better option if loan is paid off within seven years).
- You think interest rates will increase.
- Pro: No risk that changing market conditions will increase your monthly payments.
- Con: Interest rates on Jumbo fixed rate loans are typically higher than conforming fixed rate loans.
- You don't expect your income to increase significantly over the coming years.
Why Choose This
- You need to qualify for the largest loan possible.
- Pro: Save significant amount of money in interest payments.
- Con: Your monthly payment will be significantly higher than with a 30-year mortgage.
- You plan on staying in the home long-term.
- Pro: Level principal and interest payments for the full term of the loan.
- Con: Benefits of the fixed rate are not realized until after the seventh year (A 7 Year Jumbo ARM is a better option if loan is paid off within seven years).
- You think interest rates will increase.
- Pro: No risk that changing market conditions will increase your monthly payments.
- Con: Interest rates on Jumbo fixed rate loans are typically higher than conforming fixed rate loans.
- You don't expect your income to increase significantly over the coming years.
Why Choose This
- You plan to be in your home 5-10 years.
- Pro: Payment stability your rate and principal and interest payment adjust only every five years.
- Con: Rate is typically slightly higher than a Jumbo 5 Year ARM.
- You want peace of mind knowing that your rate adjusts only every five years, not annually.
- Pro: Rate is lower than a fixed-rate mortgage, increasing your buying power.
- Con: Conversion to fixed rate is not available.
- You're looking for an initial low rate and payment, but afraid of annual rate increases.
- Pro: Smaller number of rate adjustments during the life of the loan may save you more money.
- Pro: Lower payments allow for more cash flow.
- Pro: The loan is assumable, with lender approval.
Why Choose This
- You want a longer initial fixed period than the 3 Year ARM.
- Pro: Initial fixed interest rate for five full years; rate adjusts every six months thereafter.
- Con: It's riskier if you don't expect your income to increase over the initial five-year period to cover the change in monthly payment.
- To keep your payments low.
- Pro: Allows for higher loan amount qualification and enhanced buying power.
- Pro: To maximize the amount of loan you qualify for.
- Con: Conversion to fixed rate is not available.
- You plan to stay in the home for less than five years.
- Pro: Stability of a fixed monthly payment for the first five years of the loan.
- Pro: The loan is assumable, with lender approval.
Why Choose This
- You want a longer initial fixed period than the 5 Year ARM.
- Pro: Initial fixed interest rate for seven full years; rate adjusts every six months thereafter.
- Con: Interest rate can increase dramatically after the first seven years.
- To keep your payments low.
- Pro: Allows for higher loan amount qualification and enhanced buying power.
- Con: Conversion to fixed rate is not available.
- You plan to stay in the home for less than seven years.
- Pro: Stability of a fixed monthly payment for the first seven years of the loan.
- Pro: The loan is assumable, with lender approval.
Why Choose This
- You want a longer initial fixed period than the 7 Year ARM.
- Pro: Initial fixed interest rate for 10 full years; rate adjusts every six months thereafter.
- Con: Interest rate can increase dramatically after the first 10 years.
- To keep your payments low.
- Pro: Allows for higher loan amount qualification and enhanced buying power.
- Con: Conversion to fixed rate is not available.
- To maximize the amount of loan you qualify for.
- Pro: The loan is assumable, with lender approval.
- You plan to stay in the home for less than 10 years.
- You want the stability of a fixed monthly payment for the first 10 years of the loan.
Need more information?
Just stop by your Neighborhood Financial Center, and we can answer your questions and help you find the loan that's right for you.
Ready to apply?
Loans are subject to credit approval and other underwriting criteria, and not everybody will qualify. Certain restrictions apply. Home loan programs, terms and conditions are subject to change without notification. Boeing Employees' Credit Union NMLS ID 490518.