Mortgage Center

As individuals, your home mortgage transaction represents one of the largest financial transactions you will ever make. That's why Raymond James Bank has developed a comprehensive menu of home financing programs with you in mind. The programs listed below will help you decide which loan, fixed or adjustable, 15 year or 30 year works best for you. Feel free to call our Mortgage Center and discuss your questions with an experienced Personal Banker, 888-457-5626.

Mortgage Product Comparison
Customized Loan Program Features

Loan Program

Key Features

It May Be Right For You When:

30 Year Fixed Rate Mortgage

· Fixed monthly principal and interest payments (P&I).

· You prefer the stability of regular (P&I) payments that do not change.

· You plan on owning your home for a long time.

· You want the lowest payment of the fixed rate terms offered.

15 Year Fixed Rate Mortgage

· Fixed monthly principal and interest payments (P&I).

· You prefer the stability of regular (P&I) payments that do not change.

· You plan on owning your home for a long time.

· You want to pay your home off faster and pay a lower interest rate.

· You can afford the higher monthly payment resulting from a shorter term loan.

Fixed-to-Adjustable Rate Mortgage

· 30 year adjustable rate mortgage with initial fixed period of five years, then adjusts annually.

· No negative amortization.

· Caps on interest rate changes.

· You want an ARM that protects you against the possibility of rapidly raising interest rate increases for a set number of years.

· You plan to move or refinance within a few years and prefer to customize your rate for the fixed period that you plan on owning your home.

· You expect your income to increase and want a fixed payment amount for a few years before potentially paying more.

· You believe interest rates may stay the same or be lower in future years.

Adjustable Rate Mortgage

One Month ARM

Six Month ARM

· Interest rate adjusts monthly or every six months based on a pre-determined index plus a margin.

· Lower initial rate than with a fixed rate mortgage.

· No negative amortization

· Caps on interest rate changes.

· You want the lowest possible rate and payment now.

· Your income will rise enough in the coming years to handle any potential increase in payments.

· You believe interest rates may stay the same or be lower in future years.

· If rates do rise, you are not concerned about higher rates and higher monthly payments.

Customized Loan Program Features:
Mortgage Product Comparison

Loan Features

Key Features

It May Be Right For You When:

Refinancing

· Available with all loan programs.

· Choose from no cash out refinances or cash out refinances. Cash out amounts may vary by program.

· You want a lower payment and rate.

· You want to tap into the equity in your home.

· You want to refinance from one mortgage type to another mortgage type (e.g. ARM to FIXED).

Interest-Only Payments

· Available with three year and five year Fixed- to-Adjustable Mortgages and Adjustable Rate Mortgages

· Interest-Only payments during the initial fixed periods.

· You want the absolute lowest possible monthly payment.

· You prefer to control how and when you build your wealth by paying principal at your discretion.

· You are self-employed or commissioned and the low payment with option to pay principal at any time offers a flexible alternative.

Jumbo Loans

· Mortgage amounts greater than $417,000 or the current conforming loan limit set by Fannie Mae and Freddie Mac.

· Available with all loan programs. Fixed or Adjustable Rate.

· You are buying or refinancing a more expensive home.

100% Financing

· Available with the Dual Advantage Mortgage pledge of Raymond James eligible securities as collateral to secure a portion of the loan.

· Available with three year and five year Fixed- to-Adjustable Mortgages and Adjustable Rate Mortgages

· You have Raymond James eligible securities and wish to keep your investment portfolio intact by avoiding liquidation of your assets for a down payment.

Pre-Approval

· Comprehensive underwriting to provide commitment letter for realtors and sellers.

· 24-48 hour turnaround.

· Available for all loan programs.

· Cannot lock until property found.

· You want to shop for a home with an approval in hand.

· You want to know how much you qualify for.

· You want to create a strategic advantage when negotiating a purchase contract.

Special Disclosures

All Loan Programs: Products, terms and conditions subject to change. Standard credit criteria apply. Please contact Raymond James Bank for current rate and other information or inquire on our mortgage center for current rates. Property insurance is required. Flood insurance may be required. Raymond James Bank does not offer FHA or VA loans.

Loan proceeds from Raymond James Bank lending programs may not be used to purchase, trade or carry securities or to repay debt used to purchase, trade or carry securities.

Dual Advantage Mortgage up to 100% LTV: The Dual Advantage Mortgage is not suitable for everyone. A loan client may be at risk of losing money in their collateral account due to market volatility. This may require the deposit of additional equity into the collateral account, which could result in further losses. Though RJBank will typically contact the client or their Financial Advisor prior to liquidating pledged assets, RJBank reserves the right to sell pledged assets of its choosing without contacting the client, if needed to maintain equity in the collateral account. Trading in the collateral account is permissible provided that minimum balance requirements are maintained. In addition to regular closing costs, an annual fee may be charged by Raymond James & Associates, Inc. for manual administration of the pledge accounts. Clients should consult with their Financial Advisors for details. The benefits of certain mortgage options may vary depending on market conditions, the client's financial plan and other circumstances.

Interest Only Mortgages: The benefit of certain mortgage options may vary depending on market conditions, your financial situation and other circumstances. When the principal and interest payment period commences, monthly payments will be higher. The principal balance will not be reduced during the period that interest-only payments are made. Interest payments are calculated based on the outstanding principal balance. A client will pay more interest over the life of the loan if they choose to make interest-only payments exclusively than they would under a traditional loan with the same interest rate featuring principal and interest payments. When your Interest-Only period ends, your monthly mortgage payment will be recalculated to include full principal repayment over the remaining years left on the loan. Your payment may rise significantly based on the shorter remaining term and if you have an upward rate adjustment on an adjustable rate mortgage. During the Interest-Only period, without making principal payments towards your outstanding loan balance, home price appreciation is the only way your equity will grow. The equity in your home is the difference between its market value and the amount owed on loans secured by the property. There is also a risk that by not paying down the balance of your loan of owing more on your property than you could sell it for if your home value declines.

Important Notices: Click here to view the sample loan sizes, APR’s and other pertinent disclosures related to all of our loan programs.

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Raymond James & Associates, Inc., Raymond James Financial Services, Inc., Raymond James Trust Company, and Planning Corporation of America, Inc. are affiliated with Raymond James Bank, FSB, member FDIC, a federally chartered savings bank. Unless otherwise specified, products purchased from or held at affiliated Raymond James Financial, Inc. companies are not insured by the FDIC, are not deposits or other obligations of Raymond James Bank, FSB, are not guaranteed by Raymond James Bank, FSB and are subject to investment risks, including possible loss of the principal invested.