Mortgage Rates
RESIDENTIAL MORTGAGE RATES - 1 TO 4 FAMILY PROPERTIES IN NEW JERSEY
Interest Rates and Annual Percentage Rates (APRs) are as of Webnesday, March 10, 2010
MORTGAGE PRODUCTS |
INTEREST RATES |
APR |
POINTS / FEES |
MONTHLY
PAYMENT
PER $1,000
|
|---|---|---|---|---|
Conforming 30 year fixed $100,000 to $417,000 |
5.000% | 5.194% | $450.00 | $5.37 |
Conforming 30 year fixed $100,000 to $417,000 |
5.125% | 5.171% | 0.000 | $5.44 |
Conforming 15 year fixed $100,000 to $417,000 |
4.375% | 4.700% | $450.00 | $7.59 |
|
Conforming 15 year fixed $100,000 to $417,000 |
4.500% | 4.578% | 0.000 | $7.65 |
Special 30 year fixed
** $417,001 to $750,000 |
5.375% | 5.434% | 0.000 | $5.60 |
Special 15 year fixed
** $417,001 to $750,000 |
4.625% | 4.715% | 0.000 | $7.72 |
Jumbo 30 year fixed (1)
** $750,001 to $1,500,000 |
5.750% | 5.812% | 0.000 | $5.84 |
Jumbo 15 year fixed (1)
** $750,001 to $1,500,000 |
4.875% | 4.966% | 0.000 | $7.85 |
|
Jumbo 15/30 fixed rate balloon ** $100,000 to $1,500,000 |
5.500% | 5.726% | 0.000 | $5.68 |
3/1 Adjustable Rate (2)
** $100,000 to $1,500,000 |
4.375% | 3.519% | 0.000 | $5.00 |
5/1 Adjustable Rate (2)
** $100,000 to $1,500,000 |
4.375% | 3.691% | 0.000 | $5.00 |
7/1 Adjustable Rate (2)
** $100,000 to $1,500,000 |
4.500% | 3.905% | 0.000 | $5.07 |
10/1 Adjustable Rate (2)
** $100,000 to $1,500,000 |
4.875% | 4.252% | 0.000 | $5.30 |
5/1 Adjustable Rate Interest Only (2)(3)** $100,000 to $1,500,000 |
4.625% | 3.755% | 0.000 | $3.86 |
7/1 Adjustable Rate Interest Only (2)(3)** $100,000 to $1,500,000 |
4.750% | 4.002% | 0.000 | $3.96 |
10/1 Adjustable Rate Interest Only (2)(3)** $100,000 to $1,500,000 |
5.125% | 4.465% | 0.000 | $4.28 |
ASB Affordable Housing (4) |
4.875% | 4.925% | 0.000 | $5.30 |
NJHMFA Police / Fireman (5) Up to $417,000 |
4.660% | 5.196% | $1,914.00 | $5.47 |
** FOR CONDOMINIUM LOANS ADD 1/8 PERCENT TO THE INTEREST RATE
1. Loan to value restrictions apply. Loans greater than $1,500,000 up to $3,000,000 at slightly higher interest rates.
2. Loan to value restrictions apply. Loans greater than $1,500,000 up to $3,000,000 at slightly higher interest rates. Annual Percentage Rate will change during term of loan.
3. Annual Percentage Rate will change during term of loan. These loans are interest only for the stated period which means that only interest is paid and there is no scheduled principal reduction during the specified term. Specifically, the 5/1 product requires interest only payments for the first 5 years, 7/1 product requires interest only payments for the first 7 years, and 10/1 product requires interest only payments for the first 10 years. After the interest only payment period ends, the monthly payment will increase and the loan will begin to amortize. When this occurs you will begin to make payments of interest and principal.
4. Purchase price and income restrictions vary by county. Call for further details.
5. Funds for this program are currently available for only first time homebuyer's who are also a currently employed police officer or fire fighter, as defined by the enabling legislation, who is a member of the Police and Fireman’s Retirement System with at least 1 year creditable service. Fees include $1,500 origination fee, $325 administration fee, $10 loan set up fee and $79 tax service fee. In addition the first 36 months there is a monthly $30 servicing fee, after 36 months the servicing fee for the remaining term of the loan is $18 per month.
THE FOLLOWING DISCLOSURES APPLY TO ALL THE MORTGAGE LOANS LISTED IN THE RATE TABLE
Quoted annual percentage rates (APR) are based on a loan amount of $100,000, assumes 20% equity in the home and FICO score of not less than 740. The property must be owner-occupied single family primary residence. There are rate and/or point adjustments required based on other factors, such as 2 - 4 family properties investment properties, second homes, higher loan to values cash out refinances, credit ratings (FICO scores), etc. Other pricing options and terms are available on some loan products. Other loan terms may apply to mortgage loans under $100,000. Call for details. All mortgage loans are subject to credit approval. Rates are subject to change.
Atlantic Stewardship Bank offers other attractive mortgage products including stated income, no income, and affordable housing programs. You are invited to email or phone for more information on these mortgage programs. Email us at mortgage@asbnow.com or phone us at 1-877-844-2265.
