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Mortgage Loans

Interest rates and lending terms are as of August 25, 2010. This information is not to be considered a RESPA disclosure or a Truth In Lending statement. All loan applications are processed at the Bank's Administrative Office located at: 2221 Landmark Place, Wall Township, NJ, (732) 223-4450.

Fixed Rate Mortgages
Primary/Secondary Residence
  No Points 1 Point
Term Interest Rate Estimated APR Interest Rate Estimated APR
30 Years 4.500% 4.500% 4.250% 4.334%
20 Years 4.250% 4.250% 4.000% 4.114%
15 Years 4.000% 4.000% 3.750% 3.895%
NO ORIGINATION FEE • NO BROKER FEES
APPLICATION FEE INCLUDES: Credit Report & Flood Certification
***Add 0.500% to interest rate for all loans over $625,500 to $1,000,000
***Add 0.750% to interest rate for loans over $1,000,000 to $1,500,000
***Add 1.000% to interest rate for loans over $1,500,000

Ask about the Interest First Options on our Adjustable loan products. Add 0.50% to the stated interest rates. Loan to value cannot exceed 65%.

5 Year/1 Year and 5 Year/5 Year
Adjustable Rate Mortgages Term up to 30 Years
Primary/Secondary Residence
  No Points 1 Point
Interest Rate 4.000% 3.750%
Estimated APR 3.678% 3.508%
NO ORIGINATION FEE • NO BROKER FEES
APPLICATION FEE INCLUDES: Credit Report & Flood Certification
***Add 0.500% to interest rate for all loans over $625,500 to $1,000,000
***Add 0.750% to interest rate for loans over $1,000,000 to $1,500,000
***Add 1.000% to interest rate for loans over $1,500,000
7 Year/1 Year
Adjustable Rate Mortgages Term up to 30 Years
Primary/Secondary Residence
  No Points 1 Point
Interest Rate 4.250% 4.000%
Estimated APR 3.988% 3.736%
NO ORIGINATION FEE • NO BROKER FEES
APPLICATION FEE INCLUDES: Credit Report & Flood Certification
***Add 0.500% to interest rate for all loans over $625,500 to $1,000,000
***Add 0.750% to interest rate for loans over $1,000,000 to $1,500,000
***Add 1.000% to interest rate for loans over $1,500,000

Adjustable Mortgage Information

  • Rate: On the 5/1 rate is subject to change on the 5th anniversary and annually thereafter. On the 5/5 rate is subject to change on the 5th anniversary and every 5 years thereafter. On the 7/1 rate is subject to change on the 7th anniversary and annually thereafter.
  • Indexes: Constant Maturity Treasury Securities as calculated by Federal Reserve.
  • August Index Value: One Year 0.260%. One Year index is used for 5/1, 5/5, 7/1, and 10/1 adjustables.
  • Margin: Mark-up over treasury is 2.75% for primary/secondary.
  • Caps: 2.00% per change; life of loan: 5.00% over initial rate.
  • Interest Rate Floor: 1/2% under initial rate.
Ten Year/One Year Adjustable**
Adjustable Rate Mortgages
Primary/Secondary Residence
  No Points 1 Point
Interest Rate 4.375% 4.125%
Estimated APR 4.187% 4.019%
NO ORIGINATION FEE • NO BROKER FEES
APPLICATION FEE INCLUDES: Credit Report & Flood Certification
***Add 0.500% to interest rate for all loans over $625,500 to $1,000,000
***Add 0.750% to interest rate for loans over $1,000,000 to $1,500,000
***Add 1.000% to interest rate for loans over $1,500,000

Adjustable Mortgage Information

  • Rate: Adjustable on the 10th anniversary and annually thereafter.
  • Maximum Term: 30 years
  • Indexes: One year treasury constant maturity +2.75%
  • August Index Value: One Year 0.260%
  • Margin: Mark-up over treasury is 2.75% for primary/secondary.
  • Caps: 2.00% per change; life of loan: 5.00% over initial rate.
  • Interest Rate Floor: 1/2% under initial rate.
Bi-Weekly Fixed Rate 15 Year
Accelerated Mortgages
Primary/Secondary Residence
  No Points 1 Point
Interest Rate 4.000% 3.750%
Estimated APR 4.020% 3.895%
Estimated Actual Term* 13 years 5 months 13 years 6 months
NO ORIGINATION FEE • NO BROKER FEES
APPLICATION FEE INCLUDES: Credit Report & Flood Certification
***Add 0.500% to interest rate for all loans over $625,500 to $1,000,000
***Add 0.750% to interest rate for loans over $1,000,000 to $1,500,000
***Add 1.000% to interest rate for loans over $1,500,000
Bi-Weekly Fixed Rate 20 Year
Accelerated Mortgages
Primary/Secondary Residence
  No Points 1 Point
Interest Rate 4.250% 4.000%
Estimated APR 4.249% 4.114%
Estimated Actual Term* 17 years 7 months 17 years 8 months
NO ORIGINATION FEE • NO BROKER FEES
APPLICATION FEE INCLUDES: Credit Report & Flood Certification
***Add 0.500% to interest rate for all loans over $625,500 to $1,000,000
***Add 0.750% to interest rate for loans over $1,000,000 to $1,500,000
***Add 1.000% to interest rate for loans over $1,500,000
Bi-Weekly Fixed Rate 25 Year
Accelerated Mortgages
Primary/Secondary Residence
  No Points 1 Point
Interest Rate 4.500% 4.250%
Estimated APR 4.499% 4.346%
Estimated Actual Term* 21 years 6 months 21 years 9 months
NO ORIGINATION FEE • NO BROKER FEES
APPLICATION FEE INCLUDES: Credit Report & Flood Certification
***Add 0.500% to interest rate for all loans over $625,500 to $1,000,000
***Add 0.750% to interest rate for loans over $1,000,000 to $1,500,000
***Add 1.000% to interest rate for loans over $1,500,000

* You will build equity in your home faster and save interest because you are making a half payment every 14 days, or an equivalent of 13 monthly payments a year.

To obtain these rates, Bi-weekly payments must be automatically transferred from a regular or NOW checking account at the bank.

First Time Homebuyers
Low/Moderate Income Borrowers

These programs are available on the Bank's first mortgage plans. Interest rates and loan discounts are subject to change without notice. The down payment is 10% with private mortgage insurance (PMI), or 15% without.

First Time Homebuyer Discounts
Restrictions: Annual Income: Up to $84,240 Purchase
Price: No more than $345,800
Discounts: Interest Rates: 1/8% off the loan program's normal rate.

Margin (on adjustable mortgage loans): 1/8% off the loan program's normal margin.

Application fee: Refundable at loan closing.

All other lending terms and requirements remain in place. To determine eligibility applicants must submit signed copies of last three years federal and state tax returns and sign a first time home buyer statement.

Low/Moderate Income Program Discounts
Restrictions: Annual Income: Up to $74,880
Discounts: Interest Rate - 1/8% off the loan progam's normal rate.

Margin (on adjustable mortgage loans): 1/8% off the loan program's normal margin.

Application fee: Refundable at loan closing.

Repayment Term: Up to 30 years with a 40-year payout option. Forty-year loans will result in a balloon payment if kept to term.

On both programs 1/2 point is collected at time of commitment and will be applied towards closing costs.