<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=489206321732816&amp;ev=PageView&amp;noscript=1">
MTG 724x483



Tropical Financial and our 5/6 ARM is the right Florida home loan for you!

Benefits include: 

  • Lower monthly payments when compared to a conventional home loan
  • This loan is available on primary and secondary residences
  • No prepayment penalty
  • Some condominiums may qualify
  • Rate will not increase more than 1% every 6 months
  • Interest rate cannot increase more than 5% above the initial rate over the life of the loan

GettyImages-1327847528
We want to help take your achieve your dream of owning a home. Ready to learn more? Complete this form and we will reach out to you.

5/6 ARM New Purchase Rates

Rates effective as of March 18th, 2024

5/6 ARM
(variable rate)

7.000%*

Discount Points: 1.000

7.480% APR**

What's the rate?*

Important Loan Information

The information provided assumes the purpose of the loan is to purchase a property as a rate and term refinance, with a loan amount of $150,000 and an estimated property value of $200,000. The property is located in Miramar, FL and is within Broward county. The property is an existing single family home and will continue to be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.

At a 7.000% initial interest rate, the APR for this loan type is 7.480%, subject to increase. Based on current market conditions, the payment schedule would be:    

  • 60 payments of $997.95 at a rate of 7.000%
  • 299 payments of $1043.44 at a rate of 7.500%
  • 1 payment of $1041.77 at a rate of 7.500%
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.
What's the APR?**

Important Loan Information

The information provided assumes the purpose of the loan is to purchase a property as a rate and term refinance, with a loan amount of $150,000 and an estimated property value of $200,000. The property is located in Miramar, FL and is within Broward county. The property is an existing single family home and will continue to be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.

At a 7.000% initial interest rate, the APR for this loan type is 7.480%, subject to increase. Based on current market conditions, the payment schedule would be:    

  • 60 payments of $997.95 at a rate of 7.000%
  • 299 payments of $1043.44 at a rate of 7.500%
  • 1 payment of $1041.77 at a rate of 7.500%
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

Jumbo 5/6 ARM
(variable rate)

7.000%*

Discount Points: 0.875

7.435% APR**

What's the rate?*
Important Loan Information 
  
The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $768,750 and an estimated property value of $1,025,000. The property is located in Miramar, FL and is within Broward county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.
 
At a 7.000% initial interest rate, the APR for this loan type is 7.435%, subject to increase. Based on current market conditions, the payment schedule would be:
  • 60 payments of $5114.51 at a rate of 7.000%
  • 299 payments of $5347.61 at a rate of 7.500%
  • 1 payment of $5349.78 at a rate of 7.500%
 If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.
What's the APR?**
Important Loan Information 
  
The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $768,750 and an estimated property value of $1,025,000. The property is located in Miramar, FL and is within Broward county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.
  
At a 7.000% initial interest rate, the APR for this loan type is 7.435%, subject to increase. Based on current market conditions, the payment schedule would be:
  • 60 payments of $5114.51 at a rate of 7.000%
  • 299 payments of $5347.61 at a rate of 7.500%
  • 1 payment of $5349.78 at a rate of 7.500%
 If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

5/6 ARM Refinance Rates

Rates effective as of March 18th, 2024

5/6 ARM refi
(variable rate)

7.250%*

Discount Points: 1.000

7.612% APR**

What's the rate?*
Important Loan Information
 

The information provided assumes the purpose of the loan is to refinance a property as a rate and term refinance, with a loan amount of $150,000 and an estimated property value of $200,000. The property is located in Miramar, FL and is within Broward county. The property is an existing single family home and will continue to be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.

At a 7.250% initial interest rate, the APR for this loan type is 7.612%, subject to increase. Based on current market conditions, the payment schedule would be:       

  • 60 payments of $1023.26 at a rate of 7.250%
  • 299 payments of $1046.18 at a rate of 7.500%
  • 1 payment of $1045.30 at a rate of 7.500%
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.
What's the APR?**
Important Loan Information
 

The information provided assumes the purpose of the loan is to refinance a property as a rate and term refinance, with a loan amount of $150,000 and an estimated property value of $200,000. The property is located in Miramar, FL and is within Broward county. The property is an existing single family home and will continue to be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.

At a 7.250% initial interest rate, the APR for this loan type is 7.612%, subject to increase. Based on current market conditions, the payment schedule would be:       

  • 60 payments of $1023.26 at a rate of 7.250%
  • 299 payments of $1046.18 at a rate of 7.500%
  • 1 payment of $1045.30 at a rate of 7.500%

 If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

Jumbo 5/6 ARM refi
(variable rate)

7.000%*

Discount Points: 0.875

7.404% APR**

What's the rate?*
Important Loan Information 
  
The information provided assumes the purpose of the loan is to refinance a property as a rate and term refinance, with a loan amount of $768,750 and an estimated property value of $1,025,000. The property is located in Miramar, FL and is within Broward county. The property is an existing single family home and will continue to be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.

At a 7.000% initial interest rate, the APR for this loan type is 7.404%, subject to increase. Based on current market conditions, the payment schedule would be:

•  60 payments of $5114.51 at a rate of 7.000%
•  299 payments of $5347.61 at a rate of 7.500%
•  1 payment of $5349.78 at a rate of 7.500%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.
What's the APR?**
Important Loan Information 
  
The information provided assumes the purpose of the loan is to refinance a property as a rate and term refinance, with a loan amount of $768,750 and an estimated property value of $1,025,000. The property is located in Miramar, FL and is within Broward county. The property is an existing single family home and will continue to be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.

At a 7.000% initial interest rate, the APR for this loan type is 7.404%, subject to increase. Based on current market conditions, the payment schedule would be:

•  60 payments of $5114.51 at a rate of 7.000%
•  299 payments of $5347.61 at a rate of 7.500%
•  1 payment of $5349.78 at a rate of 7.500%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.