Schwab Bank: Home Lending Solutions
Charles Schwab Bank partners with a dedicated team at Rocket Mortgage® to provide you with a variety of lending solutions backed by competitive pricing, potential discounts, and convenient servicing options.
Explore rate discounts with Schwab Bank's Investor Advantage Pricing1
The more qualifying assets you have with Schwab,1 the more you can save on home purchase or refinance loans.
Investor Advantage Pricing interest rate discounts
0.25%
interest rate discount
$250,000 – <$750,000
in qualifying assets
0.50%
interest rate discount
$750,000 – <$4,500,000
in qualifying assets
0.75%
interest rate discount
$4,500,000 – <$9,000,000
in qualifying assets
1.00%
interest rate discount
$9,000,000+
in qualifying assets
Everything you'd expect from Schwab Bank—and more.
Service
Your clients will work side by side with both Schwab Bank and a dedicated Rocket Mortgage team throughout the loan process.
Convenience
Documents can be electronically signed and submitted, and the closing can take place wherever your client chooses, as permitted by state law.
Value
Your clients will have access to competitive interest rates for home loans on a variety of loan types.
Help your clients find the right home lending solution…
Fixed-Rate Loan
- Stable monthly payment for the life of the loan.
- Set interest rates.
- Good for clients purchasing a home they plan to stay in for a long time.
Adjustable-Rate Loan
- Lower initial monthly payments.
- Good for clients planning to sell or refinance their home within the initial fixed-rate period, or expect their income to increase in the future.
Note: Interest rate and monthly payments may increase after the initial fixed-rate period ends.
Interest-Only Loan2
- Good for clients selling the property within a short period or anticipate the ability to make a large payment toward the principal within the next few years of the loan.
- Also, a good fit for clients with irregular income such as investments and commissions.
Note: After the initial interest-only period, your clients' monthly payments will rise.
Home Equity Line of Credit (HELOC)
HELOCs are based on the value of a client's home and may be a good option for clients:
- Making home improvements
- Consolidating debt
- Incurring education expenses
- Making major purchases
- Covering tax-season expenses
…and help them be ready with preapproval.
Your clients will be a more competitive buyer with the Verified Approval Letter (VAL)3 from Schwab Bank's home loan provider, Rocket Mortgage®. They will enjoy the benefits of a loan that is already underwritten with full credit, income, and asset verification.
Still have questions? Ready to begin?
Call Rocket Mortgage at 877-601-4171.
Want more? Count on it
Learn more about our holistic bank and trust solutions that can help your clients make the most of their money.
Already custody with Schwab?
Ready to take advantage of banking, lending, and trust services to support your clients in even more ways with Schwab?
Learn more in the Service Guide, contact your Regional Banking Manager, or call 800-986-3700.
Ready to talk with us?
Access to streamlined banking in one place with Schwab Bank is just another reason why so many RIAs consider Schwab a custodian of choice.
Get in touch with us today to learn more about all the ways we can support you.
Investment and Insurance Products Are: Not FDIC Insured • Not Insured by Any Federal Government Agency • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or any of its Affiliates • Subject to Investment Risks, Including Possible Loss of Principal Amount Invested
1. For Schwab Bank Mortgage Investor Advantage Pricing (IAP): Loans are eligible for only one Investor Advantage Pricing discount per loan. Select mortgage loans are eligible for an interest rate discount of 0.250% - 1.000% based on qualifying assets of $250,000 or greater. Discount applies to Adjustable-Rate Mortgages (ARMs), Jumbo 15-yr and Jumbo 30-yr fixed (excludes HELOCs, VA loans, and FHA loans). Discount for ARMs applies to initial fixed-rate period only. Qualifying assets are based on non-retirement Schwab brokerage and Schwab Bank combined account balances, including:
a) Brokerage accounts in which the borrower(s) is an owner, trustee or custodian;
b) Bank accounts in which the borrower(s) is an owner or trustee: checking & savings;
c) Corporate, LLC, Partnership and Sole Proprietorship accounts may be eligible depending on the borrower's ownership and role.
Retirement accounts, including all IRAs, are excluded from this offer.
Schwab Bank makes its best effort to identify all qualifying assets based on your Social Security Number. If you have questions regarding your specific assets or account eligibility, please call your Regional Banking Manager for assistance.
Clients must notify Schwab and Rocket Mortgage of any new assets brought to firm during processing. Qualifying new assets should be deposited and verified 15 days prior to the anticipated closing date to avoid closing delays and remain eligible to receive the interest rate discount.
2. Interest‐only mortgages have an initial interest‐only payment period followed by a fully amortizing payment period. After the interest-only period ends, your monthly payments will increase because you will be paying both principal and interest.
3. For Verified Approval Letter (VAL): VAL is a service available from Rocket Mortgage. Rocket Mortgage verifies the home buyer's income, reviews credit, and underwrites the proposed loan without an identified property. Not all properties are eligible. Once a property has been identified and approved, Rocket Mortgage may issue final loan approval. The interest rate does not lock until a contract is entered, and so rates may change without notice. Other conditions must be met for final approval and other restrictions may apply. No loan will issue without buyer's provision of insurance, an adequate appraisal, and clear title. This advertisement is not an offer to lend, and does not empower you to accept any loan agreement. VAL terms and conditions may change without notice.
Home equity lines may not be used as a bridge loan, to finance a start-up business, to change the square footage of the collateral, to invest in securities, or to repay a Schwab margin loan. Second lien Home equity lines are only available with an eligible first lien Schwab invested loan. Loans are subject to credit and collateral approval. Additional terms and conditions apply. See Schwab.com/HELOC for details.
Charles Schwab & Co., Inc., Charles Schwab Bank, SSB and Charles Schwab Premier Bank, SSB are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Deposit and non-mortgage lending products, including the Pledged Asset Line, are offered by Charles Schwab Bank, SSB, Member FDIC and Equal Housing Lender, and Charles Schwab Premier Bank, SSB, Member FDIC.
Charles Schwab & Co., Inc. does not solicit, offer, endorse, negotiate, or originate any mortgage loan products and is neither a licensed mortgage broker nor a licensed mortgage lender. Home lending is offered and provided by Rocket Mortgage, LLC. Rocket Mortgage LLC., is not affiliated with The Charles Schwab Corporation, Charles Schwab & Co., Inc., Charles Schwab Bank, SSB, Charles Schwab Trust Bank or Charles Schwab Premier Bank, SSB. In order to participate, the borrower must agree that the lender, Rocket Mortgage, may share their information with Charles Schwab Bank, SSB and Charles Schwab Bank, SSB will share their information with the lender Rocket Mortgage. Nothing herein is or should be interpreted as an obligation to lend. Loans are subject to credit and collateral approval. Other conditions and restrictions may apply. This offer is subject to change or withdraw at any time and without notice. Hazard and other insurance may be required.
Rocket Mortgage, LLC; NMLS #3030; www.NMLSConsumerAccess.org. Equal Housing Lender. Licensed in 50 states. AL License No. MC 20979, Control No. 100152352. AR, TX: 1050 Woodward Ave., Detroit, MI 48226-1906, (888) 474-0404; AZ: 1 N. Central Ave., Ste. 2000, Phoenix, AZ 85004, Mortgage Banker License #BK-0902939; CA: Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; CO: Regulated by the Division of Real Estate; GA: Residential Mortgage Licensee #11704; IL: Residential Mortgage Licensee #4127 – Dept. of Financial and Professional Regulation; KS: Licensed Mortgage Company MC.0025309; MA: Mortgage Lender License #ML 3030; ME: Supervised Lender License; MN: Not an offer for a rate lock agreement; MS: Licensed by the MS Dept. of Banking and Consumer Finance; NH: Licensed by the NH Banking Dept., #6743MB; NV: License #626; NJ: New Jersey – Rocket Mortgage, LLC, 1050 Woodward Ave., Detroit, MI 48226, (888) 474-0404, Licensed by the N.J. Department of Banking and Insurance.; NY: Rocket Mortgage, LLC, 1050 Woodward Ave., Detroit, MI 48226 Licensed Mortgage Banker-NYS Department of Financial Services; OH: MB 850076; OR: License #ML-1387; PA: Licensed by the Dept. of Banking – License #21430; RI: Licensed Lender; WA: Consumer Loan Company License CL-3030. Conditions may apply.