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Schuyler Rates

Adjustable Rate Mortgages
Rate may be increased after consummation
Owner Occupied - 1 - 4 family properties
Loan TypeRatePointsAPRMonthly Payment Per $1000Monthly Principal & Interest Payments Based on a $100,000 loan
10/1/30 4.375% 0 4.759% $4.99 Initial Term Only 120 payments of $501.09 then 240 payments of $545.07 at a rate of 5.375% based on current index and margin
7/1/30 4.125% 0 4.783% $4.85 Initial Term Only 84 payments of $486.31 then 276 payments of $547.32 at a rate of 5.375% based on current index and margin
5/5/30 4.000% 0 5.034% $4.77 Initial Term Only 60 payments of$479.00 then 300 payments of$570.90 at a rate of 5. 750% based on current index and margin
5/1/30 3.625% 0 4.745% $4.56 Initial Term Only 60 payments of$457.42 then 300 payments of$546.95 at a rate of 5.375% based on current index and margin
3/3/30 3.625% 0 5.160% $4.56 Initial Term Only 36 payments of $457.42 then 324 payments of $576.36 at a rate of 5.625% based on current index and margin
1/1/30 2.750% 0 5.116% $4.08 Initial Term Only 12 payments of $409.17 then 12 payments of $519.48 at a rate of 4.750% based on current index and margin subject to adjustment cap then 336 payments of$555.76 at a rate of 5.375% based on current index and margin
 
APR* = Annual Percentage Rate
  • APR's quoted are based on a one family owner occupied dwellings with a 20% down payment
  • Minimum Down Payment is 5%. Loans with less than 20% down will require Private Mortgage Insurance
  • Maximum Loan Amount is $500,000. Call for information on Jumbo Rates and Rates on Non-owner Occupied Properties.
  • 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.
  • Adjustable Rate Mortgages (ARM) are variable and may increase or decrease during the life of the loan with the movements of an index rate. The renewal rate on the ARM is based on one, three, or five years plus a margin of 2.75%. The ARM product has a 2.00% adjustment cap and a 6.00% life cap.
  • ARM APR's based on the follwing index values: 1 Year Treasury Index - 2.67%; 3 Year Treasury Index - 2.92%; and 5 Year Treasury Index - 2.97%.
 
Interest rates and APR's are effective as of 12/3/2018

APPLY NOW for your Residential Loan

All Interest Rates Are Subject To Change Without Notice

Special Programs:
  • First Time Homebuyers Program: For owner occupied, one or two family, properties purchased in Kearny, Harrison, East Newark, North Arlington, Lyndhurst, Rutherford, East Rutherford, Carlstadt, Wallington, Wood Ridge, and Secaucus.
    • Applicant must have had no ownership interest in any residential property during the preceding 3 year period
    • Qualifying Ratios increased to 32/40%
    • Minimum Credit Score of 725 or higher required for eligibility
    • Interest rate will be 0.125% lower than quoted rates
    • Minimum 11% down payment with no PMI required
  • Well Qualified Borrower Program:
    • Owner occupied, one or two family, properties only
    • Qualifying Ratios increased to 32/40%
    • Minimum Credit Score of 750 or higher required for eligibility
    • Minimum 11% down payment with no PMI required