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
|