Loan Rates
Effective 12:00 January 19, 2012. Call for current rate information.
FIRST MORTGAGE LOANS (maximum $3,000,000)*
We offer first mortgage programs, for purchase or refinance, on 1 to 4 family properties. The home must be owner occupied as the owner's primary residence or true vacation home.
| Program | Interest Rate | APR* | Monthly Cost per $1,000 | |
|---|---|---|---|---|
| 3-year, Fixed-Rate converting to a 1-year ARM** | 3.250% | 3.066% | $4.34 | |
| 3YR. ARM - 36 Payments of $435.21 at an interest rate of 3.250% - 323 Payments of $418.29 at an interest rate of 3.00% & 1 Payment of $415.27 at an interest rate of 3.00% | ||||
| 5-year, Fixed-Rate converting to a 1-year ARM** | 3.250% | 3.097% | $4.34 | |
| 5YR. ARM - 60 Payments of $435.21 at an interest rate of 3.25% - 299 Payments of $417.72 at an interest rate of 3.00% & 1 Payment of $ 421.32 at an interest rate of 3.00% | ||||
| 5/1 ARM Interest Only** | 3.500% | 3.185% | $2.99 | |
| 5YR. ARM - INT. ONLY - 60 Payments of $291.67 at an interest rate of 3.500% - 299 Payments of $469.55 at an interest rate of 3.00% & 1 Payment of $466.68 at an interest rate of 3.00% | ||||
| 7-year, Fixed-Rate converting to a 1-year ARM** | 3.500% | 3.242% | $4.51 | |
| 7YR. ARM - 84 Payments of $449.05 at an interest rate of 3.75% - 275 Payments of $429.12 at an interest rate of 3.00% and 1 Payment of $427.99 at an interest rate of 3.00% | ||||
| 7/1 ARM Interest Only** | 3.750% | 3.360% | $3.24 | |
| 7YR. ARM - INT. ONLY - 84 Payments of $312.50 at an interest rate of 4.000% - 275 Payments of $504.59 at an interest rate of $3.00% and 1 Payment of $501.29 at an interest rate of 3.00% | ||||
| 10-year, Fixed-Rate converting to a 1-year ARM** | 3.990% | 3.621% | $4.80 | |
| 10 YEAR ARM - 120 Payments of $476.84 at an interest rate of 3.990% - 239 Payments of $438.76 at an interest rate of 3.00% and 1 Payment of $438.51 at an interest rate of 3.00% | ||||
| 10/1 ARM Interest Only** | 4.250% | 3.785% | $3.70 | |
| 10 YEAR ARM - INT. ONLY - 120 Payments of $354.17 at an interest rate of 4.250% - 239 pmts of $557.11 at an interest rate of 3.00% & 1 Payment of $555.10 at an interest rate of 3.00% | ||||
| 15/30 One Step to $750,000 | 4.250% | 4.264% | $4.93 | |
| 15/30 One Step (gt) $750,000 (lt) $1,500,000 | 4.375% | 4.384% | $5.01 | |
| 10-year, Fixed-Rate to $750,000 | 3.250% | 3.278% | $9.78 | |
| 10-year Fixed Rate (gt) $750,000 (lt) $1,500,000 | 3.500% | 3.519% | $9.85 | |
| 15-year Fixed Rate to $750,000 | 3.500% | 3.519% | $7.13 | |
| 15-year Fixed Rate (gt) $750,000 (lt) $1,500,000 | 3.625% | 3.638% | $7.27 | |
| 15-year Agency Conforming to $417,000 | 3.375% | 3.414% | $7.03 | |
| 15-year Agency Conforming High Balance to $625,501.00 | 3.500% | 3.519% | $7.11 | |
| 20-year, Fixed-Rate to $750,000 | 3.875% | 3.890% | $5.99 | |
| 20-year Fixed Rate (gt) $750,000 (lt) $1,500,000 | 4.000% | 4.010% | $6.07 | |
| 30-year Agency Conforming to $417,000 | 4.000% | 4.022% | $4.77 | |
| 30-year Agency Conforming High Balance to $625,501.00 | 4.250% | 4.261% | $4.99 | |
| 30-year Fixed Rate to $750,000 | 4.375% | 4.386% | $5.01 | |
| 30-year Fixed Rate (gt) $750,000 (lt) $1,500,000 | 4.500% | 4.508% | $5.08 | |
| 30-year fixed rate Bi-weekly to $750,000**** | 4.125% | 4.132% | $4.87 | |
| 30-year fixed rate Bi-weekly (gt) $750,000 (lt) $1,500,000**** | 4.250% | 4.255% | $4.95 | |
****The 30Yr. Bi-weekly rates listed above are only available for properties located in New Jersey, Manhattan, NY, Brooklyn, NY & Queens, NY.
****Applicable only with the auto debit program & direct deposit into an Investors Bank checking account.
Bi-weekly mortgage payments are available on 10, 15 and 20 year fixed rate mortgages (15/30 Balloon ineligible) Reduce interest rate by .125% for New Jersey, Manhattan, NY, Brooklyn, NY and Queens, NY properties only. Auto debit program and direct deposit into an Investors Bank checking account are required.
*Add 0.25% to the interest rate for loans over $1,500,000.00
Add 0.500% for No Income Verification Loans
Add 0.125% to the interest rate for all New York Loans
Add 0.125% to the interest for all Condominiums / Attached PUD'S
No add on for projects that are 100% complete and 100% sold (closed) with maximum 75% LTV to $750,000.00 or 5% below maximum LTV for higher loan amounts.
Add 0.125% to the interest rate for all Co-ops
Add 0.125% to the interest rate for all 2-4 family properties
Other 30-year Fixed Conforming Programs and rates are available.
**Adjustable Rate Mortgages are variable and may increase or decrease after consummation. ARM Payment Schedules are based on a loan amount of $100,000.00.
If an escrow account is required or requested, the actual monthly payment will also
include amounts for real estate taxes and homeowners insurance premiums.
*** Need to meet program criteria.
Special programs available for first-time home buyers and low or moderate-income borrowers:
Low and Moderate Income Borrowers (conforming loan amounts only)
ARM and other Interest Rates reduced by .125% (Not available on 3 year ARM or Interest Only loans)
30 year Conforming fixed interest rate available at 4.125% (APR = 4.136%)
Private mortgage insurance is required on all loans with less than 20% down payment
APRs and fees are subject to change without notice.
FHA Mortgage loans available.
Click here for application.
HOME EQUITY RATES/APPLY:
For New Jersey properties, click HERE.
For New York properties, click HERE.
HOME OWNER CONSUMER LOAN (maximum $10,000):
No application or appraisal fees. Available on New Jersey properties only.
| Program | APR* | Monthly Cost per $1,000 |
|---|---|---|
| Up to 5-years | 7.000% | $19.81 |
*Rate shown include 1/4% rate reduction with automatic payment deducted from a checking account at Investors.
SPECIAL HOME IMPROVEMENT LOAN (maximum $5,000):
Available to low and moderate income borrowers only; no application fee, no appraisal fee and no closing costs. Available in New Jersey properties only.
| Program | APR** | Monthly Cost per $1,000 |
|---|---|---|
| Up to 10 years | 2.99% | $9.65 |
Hazard insurance is required on an Equity Loan or Equity Line of Credit. A $75.00 Closing fee will be collected at closing on all Equity products except the Home Owner Consumer Loan and the Special Home Improvement Loan.
All APRs and fees are subject to change without notice.
APR = Annual Percentage Rate
*Subject to credit approval
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