Lending Products from Schwab Bank

Get competitive rates and low costs on a range of mortgage and lending products. Home Lending for Schwab Bank is provided by Quicken Loans®.

Mortgages

Access a variety of mortgage products and competitive rates through Schwab Bank's home lending program provided by Quicken Loans—the nation's largest online mortgage lender1 with over 31 years of experience.

Mortgages to meet your clients' needs:

  • Adjustable-rate mortgages (ARMs)
  • Fixed-rate mortgages
  • Interest-only ARMs2
  • Conforming and jumbo mortgages

With Schwab Bank's home lending program from Quicken Loans, you and your clients can count on:

  • A simple and fast mortgage origination and closing process, historically 45 days or less on average3.
  • A dedicated team at Quicken Loans and Schwab Bank to support you and your clients.
  • The convenience of online tools to sign and upload documents, and track loan progress.

Investor Advantage Pricing

Schwab Bank's Investor Advantage Pricing now offers new enhanced mortgage rate discounts. Your clients are now eligible to receive a 0.250% interest rate discount on their new Purchase loan, and they may also be eligible for rate discounts when refinancing a loan. Interest rate discounts on new mortgages (purchase and refinance) are based on the value of combined qualifying non-retirement balances at Schwab, Schwab Bank and/or assets brought over from other financial institutions.

Please note that qualifying loans for Investor Advantage Pricing are all Adjustable-Rate Mortgages, as well as the Jumbo 15-Year Fixed Rate Loan.

Investor Advantage Pricing Options
For all Adjustable-Rate Mortgage and 15-Year Fixed Rate Jumbo Loans
Qualifying Non-Retirement Schwab Account Balance Rate Discount for Purchase Loans Rate Discount for Refinance Loans
$0 - $249,999 0.250% N/A
$250,000 - $749,999 0.125%
$750,000+ 0.250%

Investor Advantage Pricing Options
For all Adjustable-Rate Mortgage and 15-Year Fixed Rate Jumbo Loans
Qualifying Non-Retirement Schwab Account BalanceRate Discount for Purchase LoansRate Discount for Refinance Loans
$0 - $249,999 0.250% N/A
$250,000 - $749,9990.125%
$750,000+ 0.250%
  • Qualifying balances are determined at the individual level for all borrowers listed on the application (not the household level), and exclude retirement accounts.
  • Borrowers are eligible for the rate discount if the qualified balances are in a Schwab/Schwab Bank account at least 15 days prior to the loan closing. Qualifying balances will be verified via data pulls.
  • Eligible products for the relationship rate discount include: 
    • All 5/1, 7/1 and 10/1 ARMs (discounts apply to fixed-rate period)
    • 1-month ARM
    • 15-year Jumbo fixed rate

      Note: HELOCs and 15-year non-agency conforming loans are not eligible.

Your clients are only eligible for one IAP discount per loan4. View Additional Rate and Payment Information.

Quicken Loans Mortgage First

Offer your clients an edge when buying a home in a competitive market. Schwab Bank's home lending provider Quicken Loans offers Mortgage First5―a program where clients can be preapproved for a mortgage loan before starting their search. The loan is entirely underwritten upfront with a full credit, income and asset verification which can expedite the process.

Home Equity Lines of Credit

Finance home improvements, consolidate debt, pay for educational expenses or finance a major purchase with a low-rate home equity line of credit (HELOC) provided by Quicken Loans.

Features:

  • Revolving line of credit with multiple advances
  • A competitive variable APR of 4.99%6
  • Interest only payments for the first 10 years
  • Interest may be tax-deductible7
  • Interest incurred only on the amount advanced
  • Revolving credit line means you can use it again once the line is paid down
  • Easy account access using HELOC checks

Pledged Asset Line® of Credit from Schwab Bank

Help maximize your clients' eligible investments to get cash for their personal or business needs with the Schwab Bank Pledged Asset Line8. This helps your clients gain liquidity without selling their assets.

Because your clients can stay invested, you can continue to manage their assets to help meet their investment goals and retain the ability to buy, sell and trade within the Pledged Asset Account6. You can also:

  • Help clients avoid potential tax consequences caused by sale of assets9
  • Separate investment borrowing from non-purpose borrowing
  • Keep performance and tax reporting simple

Features:

  • Line amounts range from $100,000 up to $20,000,000 and above.
  • Competitive rates, based on LIBOR (London interbank offered rate).
  • No fees to set up or maintain account. Brokerage fees and commissions apply. 
  • Pay interest only on portion of the line used.
  • No monthly payment required when sufficient credit is available.
  • Access the line with checks or wire transfers.
  • Pay back any or all of the line at any time with no prepayment penalty.
  • Pledged asset lending involves a high degree of risk. If the value of your clients' collateral account falls, your client may have to deposit more cash or securities to avoid default. In addition, your clients' pledged securities could be sold without your consent, which may result in tax consequences.