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 your clients have with Schwab,1 the more they 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 anticipating 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)3
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)4 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.
Limited-time home purchase savings
Qualified clients may receive an additional 0.25% rate reduction on select adjustable-rate and 15-year fixed term Jumbo purchase loans, with no minimum asset requirement. This pricing may be combined with select Investor Advantage Pricing-eligible products (not available on 30-year fixed term Jumbo loans). Valid through September 30, 2026.
Quoting mortgage rates may require NMLS registration5—see disclosure below.
Jumbo Loans
| 10 Year ARM |
| 6.125% 6.326% APR |
Conforming Loans
| 10 Year ARM |
| 6.125% 6.344% APR |
Jumbo Loans—Rates for Refinance
Rates below do not include Investor Advantage Pricing discounts and are based on a $1.3 million loan and 60% LTV.
More Jumbo Loans
| IAP-eligible loan | Loan type | Rate (%) | APR (%) | Points (%) | Rate and payment details |
| Yes | 10 Year ARM | 6.125% | 6.326% | -- | Details |
| Yes |
5 Year ARM Interest-only payment option |
5.875% | 6.376% | -- | Details |
| Yes |
7 Year ARM Interest-only payment option |
6.125% | 6.410% | -- | Details |
| Yes |
10 Year ARM Interest-only payment option |
6.250% | 6.415% | -- | Details |
| Yes | 15 Year Fixed | 6.250% | 6.302% | -- | Details |
| Yes | 30 Year Fixed | 6.750% | 6.784% | -- | Details |
Conforming Loans—Rates for Refinance
Rates below do not include Investor Advantage Pricing discounts and are based on a $350,000 loan and 60% LTV.
See more Conforming Loans
| IAP-eligible loan | Loan type | Rate (%) | APR (%) | Points (%) | Rate and payment details |
| Yes | 10 Year ARM | 6.125% | 6.344% | -- | Details |
| Yes |
5 Year ARM Interest-only payment option |
6.250% | 6.531% | -- | Details |
| Yes |
7 Year ARM Interest-only payment option |
6.375% | 6.548% | -- | Details |
| Yes |
10 Year ARM Interest-only payment option |
6.375% | 6.511% | -- | Details |
| No | 10 Year Fixed | 5.375% | 5.481% | -- | Details |
| No | 15 Year Fixed | 5.625% | 5.701% | -0.125 | Details |
| No | 20 Year Fixed | 5.875% | 5.937% | -0.125 | Details |
| No | 25 Year Fixed | 6.125% | 6.180% | -0.125 | Details |
| No | 30 Year Fixed | 6.125% | 6.173% | -- | Details |
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 a banking professional, or call 800-497-7470.
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):
The discount applies to Adjustable-Rate Mortgages (ARMs), Jumbo 15-year and Jumbo 30-year fixed-rate mortgages. For ARMs, the discount applies only during the initial fixed-rate period. Eligibility is limited to loans invested by Schwab Bank (excluding CMAP and HELOC); loans invested by other parties are not eligible.
Qualifying assets are based on combined Schwab account balances and may include:
a. Brokerage accounts where the borrower is an owner, trustee, or custodian
b. Schwab Bank checking and savings accounts where the borrower is an owner or trustee
c. Non-Retirement Corporate, LLC, Partnership and Sole Proprietorship accounts may be eligible depending on the borrower's ownership and role (business retirement accounts such as SEP IRAs, SIMPLE IRAs, and Pension Trusts are excluded)
Retirement accounts, including all IRAs, are excluded from this offer.
Schwab Bank makes its best effort to identify all qualifying assets based on Social Security Number. If you have questions regarding your specific assets or account eligibility, please call your Banking Professional for assistance. Clients must notify Schwab Bank and Rocket Mortgage of any new assets added during loan processing. Qualifying assets must be deposited and verified at least 10 days prior to the anticipated closing date to avoid delays and remain eligible for the 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. 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.
4. 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.
5. Important Notice for RIAs - Quoting or discussing specific mortgage rates or terms may require registration under the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act). Individuals engaging in these activities may need to register with the Nationwide Multistate Licensing System (NMLS) as Mortgage Loan Originators (MLOs). Charles Schwab & Co., Inc. ("Schwab") does not supervise or control independent RIAs. RIAs are solely responsible for complying with all applicable laws, including NMLS requirements. Schwab does not verify or guarantee RIA licensing status. Any mortgage rate information shown here is illustrative only and subject to change. RIAs should not quote these rates unless properly licensed and registered.
For More Information: Clients and advisors should contact Rocket Mortgage, LLC (NMLS #3030) or an NMLS-registered Schwab representative for current rates and details. Visit https://www.nmlsconsumeraccess.org for licensing information.
6. Due to market fluctuations, interest rates are subject to change at any time and without notice and are subject to credit and property approval based on underwriting guidelines. The rate and APR shown is based on a rate and term refinance loan of an owner-occupied, single-family residence. Rates may be higher or lower for different loan amounts, loan products, property type, state where property is located, credit score, occupancy, Loan-to-Value, and loan purposes. Your individual rate may vary.
Charles Schwab & Co., Inc., and Charles Schwab Bank, SSB are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Deposit and lending products are offered by Charles Schwab Bank, SSB, Member FDIC and an Equal Housing Lender.
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.