OPENING DOORS WITH OUR RESIDENTIAL LENDING We offer a wide range of options for homebuyers and homeowners looking to refinance.
OPENING DOORS WITH OUR RESIDENTIAL LENDING THE FINANCING SOLUTION YOU SEEK. THE PERSONAL SERVICE YOU DESERVE. We are committed to helping you successfully complete your residential financing through competitive mortgage offerings and flexible credit terms. We offer a full complement of residential lending available in all 50 states designed to suit your financing needs. Plus, one of our personal banking consultants will partner with you throughout the entire process to help you to find and create the financing solution that fits you best. FIXED-RATE MORTGAGES For those who prefer a steady interest rate and straightforward monthly payments, these mortgages offer regular monthly principal and interest payments for the entire term of the loan either 15 years 1 or 30 years 2. This option can work well if you plan to own your home for a long time. ADJUSTABLE-RATE MORTGAGES If you don t plan to own your home for an extended period of time, consider an adjustable rate mortgage (ARM) with a fixed interest rate for an initial period, then it adjusts annually for the remainder of the loan term. ARMs typically offer lower interest rates than fixed-rate mortgages and are offered with five 3 -, seven 4 -, 10 5 - or 15-year 6 initial fixed periods, enabling you to easily choose a mortgage that works for your family. These mortgages appeal to homebuyers who want to take advantage of a lower rate for the initial fixed period. 1
JUMBO MORTGAGES Raymond James Bank is an expert at helping homebuyers make large home purchases through customized financing solutions. When you re ready to purchase a residential property that exceeds conforming loan amounts, you ll want to consider a jumbo mortgage. These mortgages are available in both fixed- and adjustable-rate structures to purchase primary residences exceeding $417,000. PLEDGED SECURITIES MORTGAGES Use your securities held at Raymond James as collateral on a residential mortgage for your primary home, second home or residential investment property 7 or even for assisting a qualified family member with a home purchase. You keep your money invested rather than interrupting your investment strategy, and you can avoid potential capital gains taxes that come with liquidating assets. (Please consult your tax advisor regarding capital gains taxes and the deductibility of interest.) Plus, since you can finance up to 100% of your home purchase, you can forgo a down payment and private mortgage insurance. This mortgage is available as a fixed rate loan or an ARM. 2
OPENING DOORS WITH OUR RESIDENTIAL LENDING PHYSICIANS MORTGAGE PROGRAM Your advanced degree and credentials represent not only your commitment to your profession, but your value to the well-being of the community you serve. We believe you should come home to a residence that reflects your high standards. Our Physicians Mortgage 8 program makes securing financing for such a home not only possible, but favorable. This mortgage option allows for up to 90% financing 9 and loan amounts up to $1.5 million for physicians looking to purchase or refinance a residential property with no required mortgage insurance. Choose from a fixed- or adjustable-rate mortgage. The physicians mortgage is designed specifically for new and recently established licensed medical physicians (MDs), doctors of osteopathy (DOs), doctors of dental medicine (DMD or DDS), and medical residents, interns and fellows who are under contract to begin employment with a hospital, physicians group or dental practice within 90 days of closing. 3
4 At Raymond James Bank, we offer the guidance and resources to help you plan for and enjoy the home you ve always wanted.
OPENING DOORS WITH OUR RESIDENTIAL LENDING FHA MORTGAGES Do you dream of owning your own home, but worry that you may not qualify? A governmentinsured FHA mortgage from Raymond James Bank makes qualifying easier and homeownership more affordable. Ideal for first time homebuyers, our FHA mortgages feature low interest rates that are fixed for the life of your loan. Together with a low minimum down payment of 3.5% 1 and lower monthly mortgage payments, an FHA mortgage was designed with first-time homebuyers in mind. VA MORTGAGES Our VA mortgage 11 is designed to help veterans and their families more easily achieve homeownership with advantages like no down payment and a competitive fixed rate for the life of your loan. And since mortgage insurance isn t required, it also helps lower your monthly payment. VA mortgages also allow for larger loans and higher debt-to-income ratios than traditional Fannie Mae/conforming loans. HOME EQUITY LOANS AND LINES OF CREDIT These options allow you to tap into the equity established in your home at competitive rates to pay for virtually any major purchase, including home improvement projects and educational 5
expenses. They also give you the ability to finance your home purchase by combining a first mortgage with a home equity loan or line of credit 12. There are no application fees, prepayment penalties, fees for convenience checks or balance transfers, and no minimum draw requirement. BECOME A PREQUALIFIED HOMEBUYER We can provide a conditional pre-approval or prequalification 13 for your mortgage, letting you house hunt with confidence by knowing exactly how much home you can afford. Being prequalified can also make you a more favorable buyer in the eyes of the seller, giving you an advantage over others who have not been prequalified. ALL OUR HOME LOANS COME WITH A PERSONAL BANKING CONSULTANT You will have one main point of contact to personally answer all your questions throughout the entire loan process. Our pledge is to make the process as smooth as possible and serve you with the utmost integrity. We have a variety of mortgage options available and we ll work to find the one that best suits you. Let s work together toward making your dream of homeownership a reality. 6
OPENING DOORS WITH OUR RESIDENTIAL LENDING EXPERIENCE AND SERVICE FROM A TRUSTED FIRM When looking for a mortgage, you want an established lender with strong experience and a solid reputation a lender like Raymond James Bank. We are part of one of the most respected financial companies in America. Our standards are among the highest in the industry and reflect our commitment to providing you with the highest level of service from beginning to end. We re ready to help you get started Expert guidance is just a call or click away. Contact us at 888.457.5626 or raymondjamesbank.com. If you are affiliated with a Raymond James brokerage subsidiary, please contact your financial advisor on how to reach a Raymond James banking consultant in your area. 7
1 A $180,000 15-year fixed rate mortgage with a rate of 3.500% and an annual percentage rate of 3.680% would have 180 estimated monthly principal and interest payments of $1,286.79. If an escrow account is required or requested, the actual monthly payments will also include amounts for taxes and homeowners insurance. Down payment used in this example is 20%. 2 A $180,000 30-year fixed rate mortgage with a rate of 4.500% and an annual percentage rate of 4.606% would have 360 estimated monthly principal and interest payments of $912.04. If an escrow account is required or requested, the actual monthly payments will also include amounts for taxes and homeowners insurance. Down payment used in this example is 20%. 3 A $180,000 5/1 adjustable rate mortgage with an initial rate of 3.000% and an annual percentage rate of 3.180% would have 60 estimated monthly principal and interest payments of $758.89. The maximum amount that the interest rate can rise under this program is 5 percentage points, to 8.000%. The monthly payment could rise from $758.89 to $1,222.88 in the eighth year. If an escrow account is required or requested, the actual monthly payments will also include amounts for taxes and homeowners insurance. Down payment used in this example is 20%. 4 A $180,000 7/1 adjustable rate mortgage with an initial rate of 3.125% and an annual percentage rate of 3.223% would have 84 estimated monthly principal and interest payments of $771.08. The maximum amount that the interest rate can rise under this program is 5 percentage points, to 8.125%. The monthly payment could rise from $771.08 to $1,202.86 in the tenth year. If an escrow account is required or requested, the actual monthly payments will also include amounts for taxes and homeowners insurance. Down payment used in this example is 20%. 5 A $200,000 10/1 adjustable rate mortgage with an initial rate of 3.750% and an annual percentage rate of 3.530% would have 120 estimated monthly principal and interest payments of $926.24. The maximum amount that the interest rate can rise under this program is 5 percentage points, to 8.750%. The monthly payment could rise from $926.24 to $1,365.48 in the thirteenth year. If an escrow account is required or requested, the actual monthly payments will also include amounts for taxes and homeowners insurance. Down payment used in this example is 20%. 6 A $500,000 15/1 adjustable rate mortgage with an initial rate of 3.375% and an annual percentage rate of 3.314% would have 180 estimated monthly principal and interest payments of $2,210.49. The maximum amount that the interest rate can rise under this program is 5 percentage points, to 8.375%. The monthly payment could rise from $2,210.49 to $3,048.38 in the sixteenth year. If an escrow account is required or requested, the actual monthly payments will also include amounts for taxes and homeowners insurance. Down payment used in example is 20%. 7 The Pledged Securities 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 Raymond James Bank will typically contact the client or their financial advisor prior to liquidating pledged assets, Raymond James Bank 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. If a loan client defaults (stops making monthly payments) on their mortgage, they could lose both their house and the securities they have pledged. 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. 8 The Physicians Mortgage is designed specifically for new and recently established licensed medical physicians (M.D.s), doctors of osteopathy (D.O.s), doctors of dental medicine (D.M.D. or D.D.S.), and medical residents, interns and fellows who are under contract to begin employment with a hospital, physicians group or dental practice within 90 days of closing. A new physician is a licensed resident, intern or fellow scheduled to complete a medical residency program or clinical fellowship program who is under contract to begin employment with a hospital, physicians group or dental practice within 90 days of closing on a mortgage or who has been employed as a nonresident for less than 12 months. An established physician is a licensed doctor or dentist who has been employed by a hospital, physicians group or dental practice as a nonresident for more than 12 months but less than seven years. Established self-employed physicians in practice for a minimum of two years are also eligible. 9 A $500,000 30-year fixed rate mortgage with a rate of 4.000% and an annual percentage rate of 4.034% would have 360 estimated monthly principal and interest payments of $2,387.08. If an escrow account is required or requested, the actual monthly payments will also include amounts for taxes and homeowners insurance. Down payment used in this example is 10%. 10 A $164,950 fixed rate 30-year term loan with a rate of 3.50% and an annual percentage rate of 4.8947% would have payments of $909.21 for the first 12 months. Payments will decrease slightly over the life of the loan as the mortgage insurance premium decreases every 12 months. The payments do not include taxes and property insurance and the actual payment obligation will be greater. Down payment used in this example is 3.5%. 11 VA mortgages available in the state of Florida, excluding Broward, Collier and Miami-Dade counties. 12 The line of credit can be suspended, reduced or terminated in the event of fraud, failure to repay, adverse collateral conditions, or other violation of credit terms. Contact Raymond James Bank at 888.457.5626 for current rates and other information. 13 Preapproval or prequalification is not a commitment to lend. We will be able to offer a loan commitment upon verification of application information satisfying all underwriting requirements and conditions, and providing acceptable property, appraisal and title reports. Products, terms and conditions subject to change. Subject to standard credit criteria. Property insurance required. Flood insurance required if property is located in a designated flood zone of A or V. Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are affiliated with Raymond James Bank, N.A. Mortgage services provided exclusively through Raymond James Bank, N.A.
LIFE WELL PLANNED. INTERNATIONAL HEADQUARTERS: THE RAYMOND JAMES FINANCIAL CENTER 710 CARILLON PARKWAY // ST. PETERSBURG, FL 33716 // 888.457.5626 RAYMONDJAMESBANK.COM Raymond James Associates, Inc., and your Raymond James Financial Advisor do not solicit or offer residential mortgage products and are unable to accept any residential mortgage loan applications or to offer or negotiate terms of any such loan. You will be referred to a qualified Raymond James Bank employee for your residential mortgage lending needs. 2014 Raymond James & Associates, Inc., member New York Stock Exchange/SIPC 2014 Raymond James Financial Services, Inc., member FINRA/SIPC. 2014 Raymond James Bank, member FDIC. All rights reserved. Raymond James is a registered trademark of Raymond James Financial, Inc. RJBK-MBS-00621014 BS 11/14