1. Up to 105% loan to value (LTV) financing on home purchases. Up to home’s purchase price or appraised value, whichever is less. For loans with an LTV exceeding 100%, borrower must establish direct deposit and have a qualifying Coastal deposit account in addition to the Primary Share account.
For a $400,000 loan and a term of 7/1 ARM with a 6.125% initial interest rate, the APR for this loan type is 6.0%, subject to increase. Based on current market conditions, the monthly payment schedule would be 84 payments of $2,430.44. Taxes and insurance are not included in this payment example, the actual payment obligation will be greater.
For a $400,000 loan and a term of 5/1 ARM with a 6.125% initial interest rate, the APR for this loan type is 6.0%, subject to increase. Based on current market conditions, the monthly payment schedule would be 60 payments of $2,430.44. Taxes and insurance are not included in this payment example, the actual payment obligation will be greater.
For a $400,000 loan and a term of 10/1 ARM with a 6.25% initial interest rate, the APR for this loan type is 6.0%, subject to increase. Based on current market conditions, the monthly payment schedule would be 120 payments of $2,462.87 . Taxes and insurance are not included in this payment example, the actual payment obligation will be greater.
2. All loans are subject to approval. Additional product restrictions, terms, and conditions may apply. Membership eligibility required.