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Lending Solutions from Charles Schwab Bank

Submitted by Brian.Lavelle on November 9, 2017

Support holistic wealth management strategies with complementary lending solutions offered by Charles Schwab Bank® (Schwab Bank), including Pledged Asset Line® (flexible line of credit) and mortgage products through Quicken Loans®, the home lending provider of Schwab Bank.

Help find and secure the right home lending solution.

Schwab Bank offers access to a variety of competitively priced lending solutions, including home mortgages; home equity lines of credit (HELOCs); and Mortgage First, a pre-approval program provided by Quicken Loans. Quicken Loans is 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 program through Quicken Loans provides:

  • A simple and efficient mortgage origination and closing process.
  • A dedicated team to support Charles Schwab & Co., Inc. (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 interest rate discounts for eligible mortgage loan products through Schwab Bank's home lending program provided by Quicken Loans, including all ARMs and 15-year4 fixed-rate jumbo loans. Clients are eligible to receive up to a 0.750% interest rate discount on purchase as well as refinance mortgage loans based on their qualifying assets with Schwab.


Investor Advantage Pricing interest rate discounts
for all adjustable-rate and 15-year fixed-rate jumbo loans


Qualifying non-retirement Schwab assets  For purchase and refinance loans
$250,000-$999,999  0.250% 
$1,000,000-$4,999,999 0.500%
$5MM+ 0.750%
  • Investor Advantage Pricing interest rate discounts from Schwab Bank are based on the value of a client's combined qualifying non-retirement assets at Schwab, Schwab Bank, and/or assets brought over from other financial institutions.
  • Borrowers are eligible for the interest rate discount if the qualified assets are in a Schwab or Schwab Bank account at least 15 days prior to the loan closing.
  • Qualifying assets are determined at the individual level for all borrowers listed on the application and exclude retirement accounts.
  • Please note that HELOCs and select conforming loans are not eligible. 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.5

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.6

Schwab Bank's home lending provider, Quicken Loans, offers Mortgage First―a program in which clients can be preapproved for a mortgage loan before starting their home search. The loan is underwritten up front 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.7

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: 5.25% as of August 1, 2019. The annual percentage rate (APR) for a primary residence is 5.99% (standalone rate) / 5.00% (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.

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 a flexible line of credit from Schwab Bank.

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 a Pledged Asset Line. This flexible line of credit can help clients remain invested while providing a source of funds for future business or personal needs. Clients can leverage the value of their portfolio by pledging eligible brokerage assets as collateral8 through a separate Pledged Account maintained at Schwab. 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 Account.9

This securities-based, non-purpose10, flexible line of credit can be used to help:

  • Renovate a home or provide financing for an investment property.
  • Fund a business or new start-up.
  • Finance college tuition or other education related expenses.
  • Cover tax payments, or simplify performance and tax reporting.
  • Avoid potential tax consequences caused by the sale of assets.

This flexible line of credit offers:

  • Line amounts beginning at $100,000 with a minimum initial advance requirement of $70,000.
  • Competitive variable rates, based on London Interbank Offered Rate (LIBOR) plus an interest rate spread.
  • Quick lending decisions.
  • Interest charges only on the amount of the line used.
  • Line access via checks or wire transfers.
  • No set-up fees or prepayment penalty. Brokerage fees and commissions may apply.

A discount is available to investors on Schwab Bank Pledged Asset Lines for a limited time. 

Schwab clients may enjoy an exclusive promotional discount of 0.50% off the interest rate spread on a new Pledged Asset Line, a flexible, non-purpose11 line of credit from Schwab Bank, during the promotion period from July 1 to September 30, 201912.

See what investors could qualify for:

Loan value of collateral at origination Index Interest rate spread Interest rate spread with 0.50% discount
$100,000 to <$250,000 1-month LIBOR 4.50% 4.00%
$250,000 to <$500,000 3.25% 2.75%
$500,000 to <$1,000,000 2.75% 2.25%
$1,000,000 to <$2,500,000 2.25% 1.75%
$2,500,000 and above 1.75% 1.25%

Applications submitted during the promotion period can receive a discount of 0.50% on the interest rate spread applicable to the Pledged Asset Line account, based on Schwab Bank's standard rates described above, which are subject to change without prior notice. The initial variable APR on the Pledged Asset Line account is the sum of the one-month LIBOR, plus the Interest Rate Spread (based on the loan value of collateral at origination).  Schwab Bank reserves the right to change any part of the interest rate after the Pledged Asset Line is established, including the LIBOR reference rate, interest rate spread, or post-Demand spread.

To learn more, visit the Introduction to the New Pledged Asset Line section  in the Service Guide or call Schwab Bank at 888-725-3630 to speak with a Regional Banking Manager

Entering into a Pledged Asset Line and pledging securities as collateral involve a high degree of risk. At any time, including in the event that the loan value of collateral is insufficient to satisfy the minimum loan value of collateral or to support the outstanding loans, Schwab Bank may demand immediate payment of all or any portion of the outstanding obligations, or require additional cash or securities to be added to the Pledged Account maintained at Charles Schwab & Co., Inc. If a Demand is not addressed, the pledged securities may be immediately liquidated without further notice to you, which may 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.