HLS, I am sure you are right about the 30 yr fixed at PLCU.

The loan I got is their 1 yr ARM jumbo at 4.25% initial rate. What is special about this is that the maximum it can adjust is 1% per year. Next year it will be 5.25%, then 6.25% etc. worst-case.

Their 3yr starts 1% higher, the 5yr 1.5% higher. Doing the math, the 3yr cannot be better than the 1yr and it takes many years for the 5yr to be potentially better.

Given excellent credit, stable job, and LTV under 50%, I am not worried about being able to refinance again when desirable.

The Pt Loma loan has no prepay penalty, no points, no origination fee. Total closing were $900 title insurance, $425 escrow fee, and about $400 miscellaneous fees. Nothing else. (Their no-closing-cost option is a bad deal since their closing costs are so low.)