Austin Texas Home Mortgage Loans and Refinance Jumbo Loans
Jumbo Loans (Loan amount greater than $417,000)These loans can have a fixed principal and interest (P&I) payment for the life of the note or one can secure an Adjustable Rate Mortgage (ARM with a fixed payment for a term of 1, 3, 5, 7 10 years). Escrows (taxes and insurance) are the only part of the entire payment subject to change.
Fix Terms
- 15yr fixed, there are 180 payments at a fixed P&I rate.
- 30yr fixed, there are 360 payments at a fixed P&I rate.
ARMS
- 1yr fixed, there are 12 payments at a fixed P&I rate then the rate adjusts to terms of the note.
- 3yr fixed, there are 36 payments at a fixed P&I rate then the rate adjusts to terms of the note.
- 5yr fixed, there are 60 payments at a fixed P&I rate then the rate adjusts to terms of the note.
- 7yr fixed, there are 84 payments at a fixed P&I rate then the rate adjusts to terms of the note.
- 10yr fixed, there are 120 payments at a fixed P&I rate then the rate adjusts to terms of the note.
