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
|