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
|
5.750%
|
7.710%
|
$5.84 (first 12 monthly payments)
|
12 payments of $583.57 then 12 payments of $713.46 at a rate of 7.750% and then 336 payments of $721.76 at a rate of 7.875% based on current index and margin
|
3/3/30 ARM
|
6.000%
|
6.983%
|
$6.00 (first 36 monthly payments)
|
36 payments of $599.55 then 324 payments of $676.62 at a rate of 7.250% based on current index and margin
|
5/1/30 ARM
|
6.250%
|
7.272%
|
$6.16 (first 60 monthly payments)
|
60 payments of $615.72 then 300 payments of $712.68 at a rate of 7.875% based on current index and margin
|
5/5/30 ARM
|
6.375%
|
6.887%
|
$6.24 (first 60 monthly payments)
|
60 payments of $623.87 then 300 payments of $668.14 at a rate of 7.125% based on current index and margin
|
7/1/30 ARM
|
6.625%
|
7.277%
|
$6.40 (first 84 monthly payments)
|
84 payments of $640.31 then 276 payments of $711.58 at a rate of 7.875% based on current index and margin
|
10/1/30 ARM
|
6.875%
|
7.266%
|
$6.57 (first 120 monthly payments)
|
120 payments of $656.93 then 240 payments of $709.00 at a rate of 7.875% based on current index and margin
|
APR* = Annual Percentage Rate
- Effective Date: June 17, 2024
- 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 $766,500 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, 5/1 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 - 5.13% 3 Year Treasury Index - 4.48% 5 Year Treasury Index - 4.32%
- 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
|
6.250%
|
6.404%
|
$11.23
|
120 equal and consecutive monthly payments of $1,122.80
|
15 Year Fixed Rate
|
6.375%
|
6.485%
|
$8.64
|
180 equal and consecutive monthly payments of $864.25
|
20 Year Fixed Rate
|
6.500%
|
6.588%
|
$7.46
|
240 equal and consecutive monthly payments of $760.36
|
30 Year Fixed Rate
|
6.750%
|
6.818%
|
$6.49
|
360 equal and consecutive monthly payments of $656.93
|
APR* = Annual Percentage Rate
- Effective Date: June 17, 2024
- 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 $766,500 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
|
6.500%
|
6.500%
|
$19.57
|
60 equal and consecutive monthly payments of $195.66
|
10 Year Fixed Rate
|
6.750%
|
6.750%
|
$11.48
|
120 equal and consecutive monthly payments of $114.82 |
15 Year Fixed Rate
|
7.000%
|
7.000%
|
$8.99
|
180 equal and consecutive monthly payments of $89.88
|
20 Year Fixed Rate
|
7.125%
|
7.125%
|
$7.83
|
240 equal and consecutive monthly payments of $78.28 |
5/5/20 ARM
|
6.625%
|
6.747%
|
$7.53 (first 60 monthly payments)
|
Based on a $100,000 Loan - 60 payments of $752.95 then 180 payments of $764.84 at a rate of 6.875% 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 - 4.32%
- Effective Date: June 17, 2024
- 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
|
6.99% APR*
|
Currently 8.00 % APR*
minimum APR of 4.00% (floor)
|
10 years
|
20 years
|
30 years
|
APR* = Annual Percentage Rate
- Effective Date: June 17, 2023
- Variable APR based on the Wall Street Journal Prime Rate (currently 8.50%) 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
|