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Lending Solutions from Charles Schwab Bank

Member for

1 year 7 months
Submitted by Brian.Lavelle on November 9, 2017

Support holistic wealth management strategies with complementary lending solutions offered by Schwab Bank, including pledged asset lines of credit and mortgage products through Quicken Loans®, the home lending provider of Schwab Bank.

Help find and secure the right mortgage.

Schwab Bank offers access to a variety of competitively priced lending products, including home mortgages; home equity lines of credit (HELOCs); and Mortgage First, a pre-approval program provided by Quicken Loans—ranked “Highest in Customer Satisfaction for Primary Mortgage Origination, 9 years in a row” and “Highest in Customer Satisfaction for Mortgage Servicing, 5 years in a row” by J.D. Power.1 Borrowers can select from a range of mortgage options:

  • Adjustable-rate mortgages (ARMs).
  • Fixed-rate mortgages.
  • Interest-only ARMs.2

Schwab Bank's home lending through Quicken Loans provides:

  • A simple and efficient mortgage origination and closing process.
  • A dedicated team to support Schwab clients.
  • Convenient online tools to sign and upload documents and track loan progress.

Obtain mortgage rate discounts with Schwab Bank’s Investor Advantage Pricing.3

Schwab Bank's Investor Advantage Pricing offers exclusive mortgage rate discounts for eligible loan products, including all ARMs and select fixed rate jumbo loans. Clients are eligible to receive a 0.250% interest rate discount on any new-purchase mortgage and may be eligible for rate discounts when refinancing a loan. Interest rate discounts for refinance are based on the value of combined qualifying non-retirement balances at Schwab and Schwab Bank, and/or assets brought over from other financial institutions.


Rate Discounts


Qualifying non-retirement Schwab account balance  For purchase loans For refinance loans
$0 - $249,999  0.250%  N/A  
$250,000+ 0.250% 0.250% 

Borrowers are eligible for the rate discount if the qualified balances are in a Schwab or Schwab Bank account at least 15 days prior to the loan closing. Qualifying balances are determined at the individual level for all borrowers listed on the application and exclude retirement accounts. Please note that HELOCs and select non-agency conforming loans are not eligible. Clients are only eligible for one discount per loan3. View additional rate and payment information for Conforming Loans and Jumbo Loans.

For a limited time, clients are eligible for up to $500 in closing cost discounts on home loans.4

Schwab Bank will offer borrowers a limited time closing cost credit of $500 on all loans when applying for a mortgage. This limited time offer is available for applications submitted through September 15, 2019.

Get a competitive edge when buying a home with Quicken Loans Mortgage First pre-approval program.5

Schwab Bank's home lending provider, Quicken Loans, offers Mortgage First―a program where clients can be preapproved for a mortgage loan before starting their home search. The loan is underwritten upfront with full credit, income and asset verification to ensure an expedited process.

A home equity line of credit can help your clients tap into the value of their home.6

Your clients can take advantage of the equity in their home to finance home improvement projects, consolidate debt, pay for educational expenses, or finance a major purchase. Quicken Loans offers a home equity line of credit (HELOC) with a competitive rate. The HELOC offers:

  • A revolving line of credit and two types of accounts are available: Standalone HELOCs applied for and opened independently of any other mortgages on the home or Piggyback HELOCs which are applied for and opened simultaneously with the first mortgage at the time of purchase or refinance.
  • Low, competitive variable rates based on Wall Street Journal Prime Rate: 5.50% as of December 20, 2018. The annual percentage rate (APR) for a primary residence is 6.24% (standalone rate) / 5.25% (piggyback rate). For the most recent APR for a primary residence, please visit
  • Interest-only payments during the draw period of the first 10 years.
  • Interest charges only on the amount borrowed.
  • Flexibility to use the line again once it is paid down prior to the repayment period.
  • Easy account access using HELOC checks.

To participate, the borrower must agree that the lender, Quicken Loans, may share their information with Schwab Bank. This offer is subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an obligation to lend. Loans are subject to credit and property approval. Other conditions and restrictions may apply. Hazard insurance may be required. Program terms and conditions are subject to change.

Access the value of your portfolio with Schwab Bank Pledged Asset Line.7

To help investors tap into the value of their investments and access cash for personal or business needs generally without having to sell securities, Schwab Bank offers the pledged asset line. Schwab Bank also offers pledged asset lines of credit that allow clients to remain invested while providing liquidity for future business or personal needs. Advisors can continue to manage client assets to help meet their investment goals and retain the ability to buy, sell, and trade within the pledged asset account.

This securities-based, non-purpose, revolving line of credit can help:

  • Clients avoid potential tax consequences caused by the sale of assets.
  • Simplify performance and tax reporting.

This flexible line of credit offers:

  • Line amounts from $100,000 up to $20 million and above.
  • Competitive variable rates, based on London Interbank Offered Rate plus an interest rate spread.
  • No fees to set up or maintain the pledged asset account (brokerage fees and commissions may apply).
  • Interest charges only on the amount of the line used.
  • Line access via checks or wire transfers.
  • No prepayment penalty.

Pledged asset lending involves a high degree of risk. If the value of the pledged collateral declines, your client may need to deposit more cash or securities to avoid a default. In addition, pledged securities could be sold without your client’s consent, which could result in tax consequences.

This offer is subject to change or withdrawal at any time and without notice. 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. 

Equal Housing Lender

Charles Schwab Bank and Quicken Loans are Equal Housing Lenders.

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