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 is required for Loan-to-Values greater than 80%.
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.
^Florida primary residence only; end loans only; not available for construction financing nor to pay off construction financing. Member must provide a fully executed sales contract signed by all parties and provide an Intent to Proceed (ITP) prior to lock. No lock in fee required; member has the option to float down one time no later than 15 days prior to the scheduled closing date. By electing the float down option, the original lock expiration date will not change.