Your initial interest rate remains the same for 5 years then is subject to change every 5 years and has an amortization term of 30 years
Requires Escrow
Max loan amount for one unit is $2 million
Max LTV is 95% for qualified borrowers
Requested program loan-to-value may be decreased upon review of property appraisal
Discount points and/or interest rate may be based on selection of a lower rate, credit score, loan-to-value, cash out at time of refinance, number of units, subordination, and other program qualifications
5/5 Adjustable Rate Mortgage Benefits
Suncoast Safe Lock
Don’t worry about surprise rate changes throwing off your budget. If you’re approved for a 5/5 ARM, for no extra fee, your rate won’t budge for up to 6 months until you close.^
A Suncoast 5/5 ARM is available for properties in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia.
PMI requirement is based on the loan-to-value (LTV) and other program requirements. Some loans do not require PMI.
Pre-approval can expedite the home-buying process and be the difference between getting the home of your dreams and watching another bidder walk away with it. Get pre-approved online or at a Suncoast location.
^ Available for Florida primary residence, end loans only. This option is not available for construction financing or for paying off existing construction financing. To lock a rate: Provide a fully executed purchase contract signed by all parties. No lock-in fee is required. Suncoast Lowest Rate Promise rules apply.