Mortgage Loans

All loans and lines of credit are subject to credit and property review and approval. Loans must be secured by a first lien on a 1-4 family residential dwelling. Additional terms and conditions apply. Not all applicants will qualify. All stated rates, terms and discounts are subject to change without notice.

¹ If receiving a grant, you may not receive cash back at closing. Lender grant is available only on closed transactions when all conditions have been met. Borrowers may receive only one grant every 36 months. This grant is non-transferrable, cannot be applied retroactively, and may not be redeemed for cash. Additional terms and conditions apply. This is not a loan approval or a commitment to lend. Depending on your tax situation, the grant may be taxable income to you. If taxable, City National will send a tax reporting form. City National does not give tax advice. You should consult with a tax advisor on the potential effects of the grant on your taxes. To be eligible for a grant up to $20,000, the property must be located in a qualifying majority-minority census tract in California, New York or New Jersey.

² Mortgage insurance is required for loans with less than 20% down payment. Down payment requirements: For conforming-balance loans, a minimum 3% down payment applies only if the property has 1 unit and all borrowers live in the property. A minimum 5% down payment is required if the loan has a borrower who does not live in the property or for 2- to 4-unit properties. For high-balance loans, the minimums are a 5% down payment for 1-unit properties, 15% down payment for 2-unit properties, and 25% down payment for 3- or 4-unit properties. As of April 4, 2025, a loan with a 3% down payment, $400,000 loan amount, and an APR of 6.54% will have a monthly principal and interest payment of $2,528 for 360 months. This monthly payment does not include homeowner’s insurance, mortgage insurance or property taxes. Actual payment obligations will be greater.

³ Interest-only available for 5 and 7 year adjustable-rate mortgages (ARMs) only. During the initial fixed-rate interest-only period, you will not pay down the loan's principal balance. Once the interest-only period ends, your payments will increase to pay back the principal and interest. For ARMs, interest rates and payments may increase after the initial fixed-rate period based on an index published by the Federal Reserve Board and a margin specific to your transaction. Any adjustment may significantly impact your monthly payment. The amount of any increase in rate has a maximum of 5%.

⁴ Additional fees may apply.

⁵ Relationship discounts available on jumbo and super jumbo mortgages only. To receive a relationship discount, qualifying deposits must be in an eligible City National account before application. Not all deposits will qualify. For adjustable-rate loans, the relationship discount applies only during the initial fixed-rate period.