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Fremont Bank Adjustable Rate Refinance California

Low Rates.
Flexible Terms.

Adjustable Rate Refinance

Refinance Today: Request a Free No-Obligation Consultation

Our no closing cost2  Adjustable Rate Mortgage (ARM) products are perfect for borrowers who only plan to remain in their home for a few years. An ARM generally starts with a lower rate and payment during the initial period and becomes variable for the remaining loan term. After the initial fixed period, the ARM interest rate could fluctuate up (capped at a pre-determined maximum) or down based on the then-current rate indexes.


Need Extra Cash?

With a Cash-Out Refinance3 you can access your home's available equity to consolidate higher interest rate debt like credit cards or pay for home improvements or other expenses. Your Fremont Bank Relationship Loan Officer can walk you through all our loan programs to help you determine the best option to fit your needs.

 

Click the tabs to see rates and sample loans

 

5/1 Adjustable
Rate Mortgage

3.078 % APR1

Sample Loan

Loan Amount $400,000.00
Payment Term: 30 years
Down Payment: 40%
Loan-to-Value (LTV): 60%
Initial Rate 2.990%
Fully Indexed APR: 3.078%
Period of Initial Rate: 60 Months
Rate Adjustment after Initial Period Expires: Annual
First Interest Rate Change Cap: 2.00%
Subsequent Rate Change Cap: 2.00%
Maximum Lifetime Cap Over Initial Rate: 5.00%
Monthly Principal & Interest Payments*: 60 Monthly Payments of $1,684.26 then 300 Monthly Payments between $2,076.50 - $2,714.64*

7/1 Adjustable
Rate Mortgage

3.182 % APR1

Sample Loan

Loan Amount $400,000.00
Payment Term: 30 years
Down Payment: 40%
Loan-to-Value (LTV): 60%
Initial Rate 3.250%
Fully Indexed APR: 3.182%
Period of Initial Rate: 84 Months
Rate Adjustment after Initial Period Expires: Annual
First Interest Rate Change Cap: 5.00%
Subsequent Rate Change Cap: 2.00%
Maximum Lifetime Cap Over Initial Rate: 5.00%
Monthly Principal & Interest Payments*: 84 Monthly Payments of $1,740.83 then 276 Monthly Payments between $2,737.41 - $2,737.41*

10/1 Adjustable
Rate Mortgage

3.430 % APR1

Sample Loan

Loan Amount $400,000.00
Payment Term: 30 years
Down Payment: 40%
Loan-to-Value (LTV): 60%
Initial Rate 3.625%
Fully Indexed APR: 3.430%
Period of Initial Rate: 120 Months
Rate Adjustment after Initial Period Expires: Annual
First Interest Rate Change Cap: 5.00%
Subsequent Rate Change Cap: 2.00%
Maximum Lifetime Cap Over Initial Rate: 5.00%
Monthly Principal & Interest Payments*: 120 Monthly Payments of $1,824.21 then 240 Monthly Payments between $2,724.32 - $2,724.32*


Rate is variable and subject to change after the initial rate period. After the initial rate period, rates and payments are based on the current index plus a margin and can increase or decrease based on changes in the index, subject to rate change caps.

*Payment amounts do not include amounts for taxes and insurance premiums. Actual payment obligation will be higher.

Rates assume no increase in the index after the initial fixed period. ARM rates and monthly payments are subject to increase after the fixed period.


Customer Testimonials

“I've had at least five home loans with Fremont Bank over the years. They have the best rates and the people are so helpful.” – John D., Hayward, CA
 

“Our refi was completed in one month from query phone call to loan payoff. Their efficiency is rare and wonderful... Overall, a great lender." – Elaine Q., Sunnyvale, CA
 

"We have now refinanced two properties with Fremont Bank. They are a pleasure to deal with. Just straight facts and information without stringing you along for months like some other banks do." – Julie P., San Leandro, CA


Other Products you might be interested in: 

Loan Assumptions and Disclosures

Rates and Terms effective 08/27/15 8:51 AM and subject to change without notice.

Loan data is for informational purposes only, and is based on owner occupied single-family homes only. The actual fees, costs and monthly payment on your specific loan transaction may be higher or lower than those quoted based on your information, which may be determined after you apply. This is not a credit decision or a commitment to lend. Loan interest rates are based on current market rates, are subject to pricing adjustments related to several factors including, but not limited to, property type and location, loan amount, loan type, loan-to-value, occupancy type, borrower credit history. Mortgage insurance may be required if loan-to-value (LTV) is higher than 80% which could increase the monthly payment and APR.

Adequate property insurance (which may include flood insurance) is required. Borrower responsible for insurance requirements and applicable state, county, city taxes which can be substantial. Additional loan programs may be available. Other restrictions may apply.

1 The annual percentage rate (APR), is the cost of credit over the term of the loan expressed as an annual rate. The APR above based on interest rate, loan origination fees and applicable closing costs and does not take into account other loan specific finance charges you may be required to pay. Actual rate will be determined after receipt of completed application and prior to execution of loan documents. Rate lock may not be available until final loan approval; fee may apply. Loan amounts $100,000 - $417,000.

2 No Closing Cost loans are subject to terms and conditions of Fremont Bank's Application Fee Agreement, which lists the specific costs and fees the borrower will not pay. An application fee may be required after a loan application is submitted, which will be refunded as a credit on your HUD-1 at closing. Application fee is non-refundable if your loan is denied, withdrawn or does not close for any reason. Borrower is responsible for paying all fees and charges imposed by brokers or an existing third party lender (for example, payoff demand statement fee and/or a reconveyance fee) as well as any prepayment penalty imposed by any third party lender or Fremont Bank. Loans with lower nominal interest rates may be available to borrower willing to pay points and fees.

3 Refinancing to lower your monthly payment may extend the number of monthly payments and/or the total amount paid when compared to your current situation. If you are a servicemember on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law.

Loans available for properties located in AZ, CA, NV, or OR. Rates may not be available in all areas. Actual rates may vary. Loans subject to credit qualifications and underwriting requirements. Property type and other restrictions may apply. Other loan programs available. Call for details. Refers to programs 114, 111 and 112 respectively.

CloseFixed Rate vs. Adjustable Rate Mortgage. Find which one is right for you.

Are you curious about the differences between a Fixed and Adjustable Rate Mortgage? This handy calculator can help you understand your mortgage options so you can decide which loan is right for you.

Here are the big differences:

With a Fixed Rate Mortgage, your monthly principal and interest payments will be steady, while with an Adjustable Rate Mortgage (ARM), your payments can vary over time. Adjustable Rate Mortgages typically have an initial fixed-rate that is usually lower than that of a comparable Fixed Rate mortgage; however after the fixed-rate period expires, the interest rate becomes adjustable.

Remember — This calculator is provided as a helpful starting point for your mortgage research. The results are based upon your responses and are in no way a replacement for a consultation with an experienced loan officer or your financial advisor. To speak with one of our loan officers, please call 866-997-7359.

How many years do you expect to stay in your next home?

Consider possible relocation for a job and lifestyle changes, such as a growing family, downsizing of home, etc.

Please enter a number of years between 1 and 99.
Next

Is it likely that you will refinance or pay off your loan in ?

Yes
No
Previous

How many years do you anticipate it will be before you refinance or will be able to pay off this mortgage?

Please enter a number of years between 1 and 99.
Next
Previous

A might be a good solution for you.

Our reasoning behind this recommendation.

You expect to have this mortgage for more than 10 years, which is too long to make a reasonable prediction about where interest rates will go. So, it's best for you to go with a fixed rate mortgage, which will ensure that your interest rate will never change. And should interest rates go down, you may have the option of refinancing your mortgage. Ask a loan officer for more details on a Fixed Rate Mortgage.

Learn more about Fremont Bank's Fixed Rate Mortgage

Our reasoning behind this recommendation.

1. You've told us that you plan to remain in your home for . 1. You've told us that you are likely to refinance or otherwise pay off the mortgage on your home within .
2. A remains at a fixed rate for , then adjusts every year after that.
3. Since you'll have the mortgage for only the fixed period, you'll get the benefit of the ARM's lower rate without the downside of the possible rate increase. Ask a loan officer for more details on an Adjustable Rate Mortgage.

Learn more about Fremont Bank's Adjustable Rate Mortgages.


Remember — This calculator is provided as a helpful starting point for your mortgage research. The results are based upon your responses and are in no way a replacement for a consultation with an experienced loan officer or your financial advisor. To speak with one of our loan officers, please call 866-997-7359.


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