Loan Rates

Rates effective as of August 18, 2020

 

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Adjustable Rate Mortgage Rates

Product

Interest Rate

Annual Percentage Rate (APR)*

Monthly Payment per $1000

Monthly Principal & Interest Payments Based on a $100,000 Loan

1/1/30 ARM

2.000%

2.857%

$3.70 (first 12 monthly payments)

12 payments of $369.62 then 348 payments of $413.51 at a rate of 2.875% based on current index and margin

3/3/30 ARM

2.625%

2.874%

$4.02 (first 36 monthly payments)

36 payments of $401.65 then 324 payments of $413.74 at a rate of 2.875% based on current index and margin

5/5/30 ARM

3.125%

3.180%

$4.28 (first 60 monthly payments)

60 payments of $428.38 then 300 payments of $428.38 at a rate of 3.000% based on current index and margin

5/1/30 ARM

2.750%

2.886%

$4.08 (first 60 monthly payments)

60 payments of $408.24 then 300 payments of $413.93 at a rate of 2.875% based on current index and margin

7/1/30 ARM

3.375%

3.162%

$4.42 (first 84 monthly payments)

84 payments of $442.10 then 276 payments of $420.22 at a rate of 2.875% based on current index and margin

10/1/30 ARM

3.500%

3.313%

$4.49 (first 120 monthly payments)

120 payments of $449.04 then 240 payments of $424.58 at a rate of 2.875% based on current index and margin

APR* = Annual Percentage Rate

  • Effective Date:  August 18, 2020
  • APR’s quoted are based on a $100,000 loan for a 1-family, owner occupied dwelling with a 20% down payment
  • Minimum Down Payment requirement is 5%. Loans with less than 20% down will require Private Mortgage Insurance
  • Payment amounts shown are for principal and interest only and do not include required escrows for taxes and insurance, which, if applicable, will make your payment obligation greater
  • Maximum loan amount is $510,400 for a 1-family dwelling. Maximums higher for 2-4 family dwellings - call for details.
  • Call for information on Jumbo Rates and Rates on non-owner occupied properties
  • Adjustable Rate Mortgages are variable rates and the annual percentage rate may increase or decrease after the initial fixed period.
  • The renewal rate is based on an index plus a margin of 2.75% with 2.00% adjustment caps and a 6.00% lifetime cap
  • Current Index: 1/1 ARM, 7/1 ARM, 10/1 ARM = 1 year Treasury; 3/3 ARM = 3 year Treasury; 5/5 ARM = 5 year Treasury
  • APRs based on the following index values: 1 Year Treasury Index - 0.14% 3 Year Treasury Index - 0.17% 5 Year Treasury Index - 0.27%
  • All loans are subject to full underwriting review. Not all applicants will qualify. This is not a commitment to lend or a guarantee of an approval.
  • Rates stated are subject to change at any time without notice
  • Other terms and conditions may apply

Fixed Rate Mortgage Rates

Product

Interest Rate

Annual Percentage Rate (APR)*

Monthly Payment per $1,000

Monthly Principal & Interest Payments Based on $100,000 Loan

10 Year Fixed Rate

2.625%

2.768%

$9.48

120 equal and consecutive monthly payments of $948.39

15 Year Fixed Rate

2.750%

2.850%

$6.79

180 equal and consecutive monthly payments of $678.62

20 Year Fixed Rate

3.125%

3.303%

$5.61

240 equal and consecutive monthly payments of $560.88

30 Year Fixed Rate

3.250%

3.305%

$4.35

360 equal and consecutive monthly payments of $435.21

APR* = Annual Percentage Rate

  • Effective Date:  August 18, 2020
  • APR’s quoted are based on a $100,000 loan for a 1-family, owner occupied dwelling with a 20% down payment
  • Minimum Down Payment requirement is 5%. Loans with less than 20% down will require Private Mortgage Insurance
  • Payment amounts shown are for principal and interest only and do not include required escrows for taxes and insurance, which, if applicable, will make your payment obligation greater
  • Maximum loan amount is $510,400 for a 1-family dwelling. Maximums higher for 2-4 family dwellings - call for details.
  • Call for information on Jumbo Rates and Rates on non-owner occupied properties
  • All loans are subject to full underwriting review. Not all applicants will qualify. This is not a commitment to lend or a guarantee of an approval.
  • Rates stated are subject to change at any time without notice
  • Other terms and conditions may apply

Home Equity Loan Rates

Product

Interest Rate

Annual Percentage Rate (APR)*

Monthly Payment per $1,000

Monthly Principal & Interest Payments
Based on a $10,000 Loan

5 Year Fixed Rate

3.375%

3.375%

$18.14

60 equal and consecutive monthly payments of $181.36

10 Year Fixed Rate

3.500%

3.500%

$9.89

120 equal and consecutive monthly payments of $98.89

15 Year Fixed Rate

4.000%

4.000%

$7.40

180 equal and consecutive monthly payments of $73.97

20 Year Fixed Rate

4.250%

4.250%

$6.19

240 equal and consecutive monthly payments of $61.92

5/5/20 ARM

3.000%

2.934%

$5.55 (first 60 monthly payments)

Based on a $100,000 Loan  -  60 payments of $554.60 then 300 payments of $549.78 at a rate of 2.750% based on current index and margin **

APR* = Annual Percentage Rate
** ARM = Adjustable Rate Mortgage Loan has a variable rate and the annual percentage rate may increase or decrease after the initial fixed period. The renewal rate is based on an index plus a margin of 2.50% with 2.00% adjustment caps and a 6.00% lifetime cap.                                                                                                 APR based on the following index value:  5 Year Treasury Index - 0.32%

  • Effective Date:  August 18, 2020
  • Available for 1 to 4 family, owner occupied, New Jersey dwellings only
  • Minimum Loan Amount is $5,000
  • First Lien loans or loans where Schuyler Savings holds the first mortgage – Maximum Loan Amount is $500,000 and Maximum CLTV is 80%
  • Second Lien loans – Maximum Loan Amount is $300,000 and Maximum CLTV is 70%
  • Payment amounts shown are for principal and interest only and do not include property taxes or insurance
  • No Application Fee
  • Appraisal fees may apply for lines over $250,000
  • Mortgage Recording Fee Payable at Closing
  • Homeowner’s property insurance is required; flood insurance may be required
  • All lines are subject to credit approval
  • Rates stated are subject to change at any time without notice
  • Other terms and conditions may apply

Home Equity Line of Credit Rates

Introductory Rate – Fixed First 6 months

Thereafter, Prime minus 0.50%

Draw Period

Repayment Period

Total Term

2.99% APR*

Currently 2.75% APR*

minimum APR of 4.00% (floor)

10 years

20 years

30 years

APR* = Annual Percentage Rate

  • Effective Date:  August 18, 2020
  • Variable APR based on the Wall Street Journal Prime Rate (currently 3.25%) with a minimum APR of 4.00% and a maximum APR of 16.00%.
  • Available for 1 to 4 family, owner occupied, New Jersey dwellings only
  • Minimum Loan Amount is $5,000
  • First Lien loans or loans where Schuyler Savings holds the first mortgage – Maximum Loan Amount is $500,000 and Maximum CLTV is 80%
  • Second Lien loans – Maximum Loan Amount is $300,000 and Maximum CLTV is 70%
  • No Application Fee or Annual Fee
  • Appraisal fees may apply for lines over $250,000
  • Mortgage Recording Fee Payable at Closing
  • Homeowner’s property insurance is required; flood insurance may be required
  • All lines are subject to credit approval
  • Rates stated are subject to change at any time without notice
  • Other terms and conditions may apply

 

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