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
|
6.125%
|
7.649%
|
$6.08 (first 12 monthly payments)
|
12 payments of $607.61 then 348 payments of $714.09 at a rate of 7.750% based on current index and margin
|
|
3/3/30 ARM
|
6.375%
|
7.083%
|
$6.24 (first 36 monthly payments)
|
36 payments of $623.87 then 324 payments of $678.39 at a rate of 7.250% based on current index and margin
|
|
5/1/30 ARM
|
6.375%
|
7.250%
|
$6.24 (first 60 monthly payments)
|
60 payments of $627.18 then 300 payments of $709.80 at a rate of 7.750% based on current index and margin
|
|
5/5/30 ARM
|
6.500%
|
6.938%
|
$6.32 (first 60 monthly payments)
|
60 payments of $632.07 then 300 payments of $669.10 at a rate of 7.125% based on current index and margin
|
|
7/1/30 ARM
|
6.875%
|
7.351%
|
$6.57 (first 84 monthly payments)
|
84 payments of $656.93 then 276 payments of $707.14 at a rate of 7.750% based on current index and margin
|
|
10/1/30 ARM
|
7.000%
|
7.310%
|
$6.65 (first 120 monthly payments)
|
120 payments of $665.30 then 240 payments of $704.48 at a rate of 7.750% based on current index and margin
|
APR* = Annual Percentage Rate
- Effective Date: April 5, 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 - 5.03% 3 Year Treasury Index - 4.48% 5 Year Treasury Index - 4.34%
- 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
|
6.750%
|
6.839%
|
$7.60
|
240 equal and consecutive monthly payments of $760.36
|
|
30 Year Fixed Rate
|
6.875%
|
6.944%
|
$6.57
|
360 equal and consecutive monthly payments of $656.93
|
APR* = Annual Percentage Rate
- Effective Date: April 5, 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
|
7.000%
|
7.000%
|
$11.61
|
120 equal and consecutive monthly payments of $116.11 |
|
15 Year Fixed Rate
|
7.375%
|
7.375%
|
$9.20
|
180 equal and consecutive monthly payments of $91.99
|
|
20 Year Fixed Rate
|
7.500%
|
7.500%
|
$8.06
|
240 equal and consecutive monthly payments of $80.56 |
|
5/5/20 ARM
|
6.875%
|
6.875%
|
$7.68 (first 60 monthly payments)
|
Based on a $100,000 Loan - 60 payments of $767.81 then 180 payments of $767.81 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 - 4.34%
- Effective Date: April 5, 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: April 5, 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
|