Mortgage Product Comparison


As individuals, your home mortgage transaction represents one of the largest financial transactions you will ever make. That's why Raymond James Bank has developed a comprehensive menu of home financing programs with you in mind. The programs listed below will help you decide which loan, fixed rate or adjustable rate, 15-year or 30-year, works best for you. Feel free to call our Mortgage Center and discuss your questions with an experienced mortgage consultant.

Loan Program
Key Features
It May Be Right For You When
30 Year Fixed Rate Mortgage1
  • Fixed monthly principal and interest payments (P&I)
  • You prefer the stability of regular (P&I) payments that do not change
  • You want the lowest payment of the fixed rate terms offered
15 Year Fixed Rate Mortgage1
  • Fixed monthly principal and interest payments (P&I)
  • You prefer the stability of regular (P&I) payments that do not change
  • You want to pay your home off faster and pay a lower interest rate
  • You can afford the higher monthly payment resulting from a shorter term loan
Adjustable Rate Mortgages with Initial Fixed Periods1
  • 30 year adjustable rate mortgage with initial fixed period of 3-, 5- or 7-years, then adjusts annually
  • No negative amortization
  • Caps on interest rate changes
  • You want an ARM that protects you against the possibility of rapidly raising interest rate increases for a set number of years
  • You plan to move or refinance within a few years and prefer to customize your rate for the fixed period that you plan on owning your home
  • You expect your income to increase and want a fixed payment amount for a few years before potentially paying more

FHA Mortgage
(not available in
all states)

  • Flexible down payment options
  • No origination fee
  • Allows for assistance with closing costs
  • Fixed rates
  • Ideal for first-time homebuyers
  • Existing or previous homeowners in need of special financing
VA Loan
  • No downpayment
  • No origination fee
  • No mortgage insurance
  • Fixed rates
  • You are on active duty in the military or a veteran

 

Customized Loan Program Features

Loan Feature
Key Features
It May Be Right For You When
Refinancing
  • Available with all loan programs
  • Choose from no cash out refinances or cash out refinances. Cash out amounts may vary by program (call for details)
  • You want a lower payment and rate
  • You want to tap into the equity in your home
  • You want to refinance from one mortgage type to another mortgage type (e.g. ARM to fixed)
Interest-Only Payments2
  • Available with 3-year, 5-year and 7-year fixed- to-adjustable mortgages and adjustable rate Mortgages
  • Interest-only payments during the initial fixed periods
  • You want the lowest possible monthly payment
  • You prefer to control how and when you build your wealth by paying principal at your discretion.
  • You are self-employed or commissioned and the low payment with option to pay principal at any time offers a flexible alternative
  • Available for Raymond James clients
Jumbo Loans
  • Mortgage amounts greater than $417,000 or the current conforming loan limit set by Fannie Mae and Freddie Mac
  • Available with all loan programs. Fixed or adjustable rate
  • You are buying or refinancing a more expensive home.
Physicians Mortgage
  • Up to 90% financing available for a home purchase1
  • New physicians3 can borrow up to $750,000 for new purchase (no refinances)
  • Established physicians4 can borrow up to $1,500,000 for new purchase and refinances
  • No mortgage insurance required
  • You are a new3 or recently established physician4
Pledged Securities Mortgage5
  • Pledge Raymond James eligible securities as collateral to secure a portion of the loan, providing up to 100% financing
  • Available with 3-, 5- and 7-year adjustable rate mortgages
  • You have Raymond James eligible securities and wish to keep your investment portfolio intact by avoiding liquidation of your assets for a down payment
Pre-Approval6
  • Preliminary review of credit information
  • Available for all loan programs
  • Cannot lock rate until property found
  • Application is required
  • You want to create a strategic advantage by securing financing ahead of time
  • You want to know how much you qualify for
Pre-Qualification6
  • Same-day turnaround in most cases
  • Available for all loan programs
  • Cannot lock until property found
  • You want to shop for a home with a pre-qualification in hand
  • You want to know how much you qualify for
  • You want to create a strategic advantage when negotiating a purchase contract

1 Click here to view the sample loan sizes, APR’s and other pertinent disclosures related to all of our loan programs.

2 The benefit of certain mortgage options may vary depending on market conditions, your financial situation and other circumstances. When the principal and interest payment period commences, monthly payments will be higher. The principal balance will not be reduced during the period that interest-only payments are made. Interest payments are calculated based on the outstanding principal balance. A client will pay more interest over the life of the loan if they choose to make interest-only payments exclusively than they would under a traditional loan with the same interest rate featuring principal and interest payments. When your Interest-Only period ends, your monthly mortgage payment will be recalculated to include full principal repayment over the remaining years left on the loan. Your payment may rise significantly based on the shorter remaining term and if you have an upward rate adjustment on an adjustable rate mortgage. During the Interest-Only period, without making principal payments towards your outstanding loan balance, home price appreciation is the only way your equity will grow. The equity in your home is the difference between its market value and the amount owed on loans secured by the property. There is also a risk that by not paying down the balance of your loan of owing more on your property than you could sell it for if your home value declines. 

3 A new physician is a licensed resident, intern or fellow scheduled to complete a medical residency program or clinical fellowship program who is under contract to begin employment with a hospital, physicians group or dental practice within 90 days of closing on a mortgage or who has been employed as a nonresident for less than 12 months.

4 An established physician is a licensed doctor or dentist who has been employed by a hospital, physicians group or dental practice as a nonresident for more than 12 months but less than seven years. Established self-employed physicians in practice for a minimum of two years also are eligible.

5 The Pledged Securities Mortgage is not suitable for everyone. A loan client may be at risk of losing money in their collateral account due to market volatility. This may require the deposit of additional equity into the collateral account, which could result in further losses. Though Raymond James Bank will typically contact the client or their financial advisor prior to liquidating pledged assets, Raymond James Bank reserves the right to sell pledged assets of its choosing without contacting the client, if needed to maintain equity in the collateral account. Trading in the collateral account is permissible provided that minimum balance requirements are maintained. In addition to regular closing costs, an annual fee may be charged by Raymond James & Associates, Inc. for manual administration of the pledge accounts. Clients should consult with their financial advisors for details. The benefits of certain mortgage options may vary depending on market conditions, the client's financial plan and other circumstances.

6 Pre-approval or pre-qualification is not a commitment to lend. We will be able to offer a loan commitment upon verification of application information satisfying all underwriting requirements and conditions, and providing an acceptable property, appraisal and title report.

Products, terms and conditions subject to change. Standard credit criteria apply. Please contact Raymond James Bank at 888.457.5626 for current rate and other information or inquire on our mortgage center for current rates. Property insurance is required. Flood insurance required if property is located in a designated flood zone of "A" or "V."

Loan proceeds from Raymond James Bank lending programs may not be used to purchase, trade or carry securities or to repay debt used to purchase, trade or carry securities.

Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are affiliated with Raymond James Bank, N.A. Unless otherwise specified, products purchased from or held at Raymond James & Associates or Raymond James Financial Services are not insured by the FDIC, are not deposits or other obligations of Raymond James Bank, are not guaranteed by Raymond James Bank and are subject to investment risks, including possible loss of the principal invested.

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