Loan Rates

 Rates effective as of November 10, 2023

 

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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

6.250%

7.995%

$6.16 (first 12 monthly payments)

12 payments of $615.72 then 348 payments of $739.82 at a rate of 8.125% based on current index and margin

3/3/30 ARM

6.375%

7.173%

$6.24 (first 36 monthly payments)

36 payments of $623.87 then 324 payments of $686.34 at a rate of 7.375% based on current index and margin

5/1/30 ARM

6.500%

7.516%

$6.32 (first 60 monthly payments)

60 payments of $632.07 then 300 payments of $730.27 at a rate of 8.125% based on current index and margin

5/5/30 ARM

6.625%

7.062%

$6.40 (first 60 monthly payments)

60 payments of $640.31 then 300 payments of $677.59 at a rate of 7.250% based on current index and margin

7/1/30 ARM

7.125%

7.655%

$6.74 (first 84 monthly payments)

84 payments of $673.72 then 276 payments of $732.01 at a rate of 8.125% based on current index and margin

10/1/30 ARM

7.250%

7.597%

$6.82 (first 120 monthly payments)

120 payments of $682.18 then 240 payments of $728.66 at a rate of 8.125% based on current index and margin

APR* = Annual Percentage Rate

  • Effective Date:  November 10, 2023
  • 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 $726,200 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 - 5.34% 3 Year Treasury Index - 4.65% 5 Year Treasury Index - 4.51%
  • 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

6.500%

6.655%

$11.35

120 equal and consecutive monthly payments of $1,135.48

15 Year Fixed Rate

6.875%

6.987%

$8.92

180 equal and consecutive monthly payments of $891.85

20 Year Fixed Rate

7.275%

7.366%

$7.92

240 equal and consecutive monthly payments of $791.89

30 Year Fixed Rate

7.500%

7.572%

$6.99

360 equal and consecutive monthly payments of $699.21

APR* = Annual Percentage Rate

  • Effective Date:  November 10, 2023
  • 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 $726,200 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

6.625%

6.625%

$19.62

60 equal and consecutive monthly payments of $196.25

10 Year Fixed Rate

7.250%

7.250%

$11.74

120 equal and consecutive monthly payments of $117.40

15 Year Fixed Rate

7.500%

7.500%

$9.27

180 equal and consecutive monthly payments of $92.70

20 Year Fixed Rate

7.625%

7.625%

$8.13

240 equal and consecutive monthly payments of $81.33

5/5/20 ARM

7.000%

7.00%

$7.75 (first 60 monthly payments)

Based on a $100,000 Loan  -  60 payments of $775.30 then 180 payments of $775.30 at a rate of 7.00% 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 - 4.51%

  • Effective Date:  November 10, 2023
  • 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

5.99% APR*

Currently 8.00 % APR*

minimum APR of 4.00% (floor)

10 years

20 years

30 years

APR* = Annual Percentage Rate

  • Effective Date:  November 10, 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

 

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