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Investors Home Mortgage, a wholly-owned subsidiary of Investors Bank, offers a wide variety of exceptional portfolio mortgage products for all lifestyles. We are a direct lender of Fannie Mae and FHA, and we offer many products and services to ensure that you are comfortable with your mortgage payment. We offer some of the most attractive mortgage rates in New Jersey, New York City, and beyond.  Learn more about our mortgage products and programs below, view our brochure, peruse our mortgage rates or apply for a mortgage today. 

Buying a Home Refinancing a Home Mortgage Specialty Programs Fixed Rate versus Adjustable Rate Mortgages

 

 

Buying a Home

 First Home Club:
Buying your first home can be an exciting and beneficial process. Finding a mortgage for your home that is specific to your needs is extremely important.  Investors Mortgage Professionals can help you to find the perfect fit. Prequalified participants in the First Home Club may be eligible to receive up to $7,500!  Investors will match as much as $4 for every $1 held in a dedicated savings account.  You may also be eligible for a reduced rate, a refunded application fee, and $500 refunded at closing applied toward the purchase or closing costs!  Investors Mortgage Professionals also host monthly seminars to educate and help First Time Home Buyers.  

Buying a Second Home:
Always dreamed of buying a vacation home?  You’ve come to the right place.  A second home has many benefits, including potential property appreciation based on location.  Let’s get you that vacation home you’ve always dreamed of—please contact your Professional Mortgage Consultant for details!

 

Buying an Investment Property:
Investors Home Mortgage provides flexible financing option for investment properties. One to Four family units are available for financing with Investors.  Owning an investment property can produce a steady cash flow, and can present an opportunity for tax advantages (contact your tax advisor for details, as restrictions do apply). 

If you’re considering buying or refinancing a home or investment property, please contact one of our Professional Mortgage Consultants or call us at 888.256.4447 for more details.

 

Refinancing a Home

There are many indicators that the time is right to refinance your home.  Let’s look at the possible reasons why it may be time to call your Investors Home Mortgage Professional. 

An increase in your home’s equity:
If your home has increased in value, your home’s equity can be used to pay off other debts or improve your home.  This is called a cash-out refinance.

A reduced interest rate: 
When interest rates drop, you may want to refinance your home.  This can make your monthly payments smaller and will allot more of your money to the principal of your home.

Reduce your term: 
Lower interest rates produce the possibility of switching to a shorter-term mortgage.  With a shorter-term, you’ll pay off your mortgage loan sooner and, with a lower rate, you may be designating more of your payments towards your principal balance.

Switch to a different loan type:
If you currently have an Adjustable Rate or a One-Step Loan, a reduced fixed rate may be desirable for you.  Switching to a fixed rate will guarantee more stability in your mortgage payment.

If you’re considering buying or refinancing a home or investment property, please contact one of our Professional Mortgage Consultants or call us at 888.256.4447 for more details.  

 

 

Specialty Programs & Services

Investors Home Mortgage offers a variety of programs and services to make your loan more affordable or more tailored to your situation.  If you are interested in any of the following, please contact one of our Professional Mortgage Consultants or call us at 888.256.4447 for more details. 

 

Bi-Weekly Mortgages:
Save money and build equity with our Bi-Weekly mortgage program.  This program is solely available on all of our fixed rate mortgage programs.  With a bi-weekly mortgage, you will be offered a lower interest rate than your typical fixed rate mortgages.  The trade-off is that you’ll be making payments every 14 days instead of the standard once a month; therefore, you’ll be making 26 bi-weekly payments every year.  With a bi-weekly program, you will not have to worry about sending in your payments because they will be auto-debited out of an Investors account for you.  Please contact one of our professional mortgage consultants to see if a bi-weekly mortgage program is right for you. 

Jumbo Loans:
Jumbo, non-conforming loan amounts are higher than the maximum loan limits set by Fannie Mae and Freddie Mac.  These loans may be right for you if you have a higher property value and an income that can support a larger monthly payment.  Jumbo Mortgage Loans are available for both Purchase and Refinancing options at Investors, and are available under the standard Fannie Mae and FHA guidelines as well.  Investors lends up to $3 million at great low rates.  With flexible features such as bi-weekly payment plans at a reduced rate and long term rate lock availability, we make obtaining a jumbo mortgage stress-free.

Fannie Mae Jumbos:
Attractive agency pricing is available for FNMA loans up to $625,500 in certain areas on primary residences, second homes as well as investment properties!   Please contact one of our professional mortgage consultants for more details.

FHA Jumbos:
At attractive agency prices, this government program offers a lower down payment option with more flexible credit requirements.  Lending is available up to $625,500 in certain areas.  Cash out refinancing is available for up to 85% of the appraised value of your home. 

Conventional Conforming Mortgage:
A conventional conforming mortgage that is not obtained under a government program (such as FHA or VA). It follows the standard Fannie Mae and/or Freddie Mac underwriting guidelines and loan amount limits. Conventional Conforming Loans can be sold to either of these two agencies on the secondary market.   Investors Home Mortgage is a direct lender and servicer of Fannie Mae (FNMA).  Please contact one of our Professional Mortgage Consultants for more information. 

Affordable Mortgage Program:
Investors has several Affordable Mortgage Programs available for low-to-moderate income borrowers.  These programs are available for purchase, rate and term refinances, and cash out refinances on condos and single family homes. 

First Time Home Club:
First time buying a home?  Prequalified participants in the First Home Club may be eligible to receive up to $7,500!  Investors will match as much as $4 for every $1 held in a dedicated savings account.  You may also be eligible for a reduced rate, a refunded application fee, a waived commitment fee, and a $500 refund at closing applied toward purchase or closing costs!

Down Payment Assistance Program:1
Qualified borrowers can borrow up to 97% of the purchase price and receive a discount in interest rate, a refund of the application fee, and a $2,500 credit towards closing costs as a community 2nd Mortgage, which, at the end of the first year after closing, will be forgiven.  Eligibility for these programs is based on income, location and credit review. 

Long-Term Rate Locks:2
Stress-free home buying is here with the Investors Home Mortgage Lock & Shop Program.  Now, you can shop for a home confidently knowing that you are pre-approved.   Lock in at today’s low rate for 60 days while you shop for the home of your dreams.  There is no fee for this feature and, should rates decrease within the 60 day lock period, you are entitled to float down your rate.  With the lock and shop program, customers can take advantage of today’s low rates before deciding on a home. 

Buyer's Best Program:
Building a new home can be exciting, but stressful when the current rate is low and you’re house will not be completed for another year!  With Investors Buyer’s Best Program, you can lock in the current rate for up to 18 Months, eliminating the market pressure!  Plus, if rates drop before your loan closes, you can relock your loan once, at the lower rate, or change to a different type of mortgage program for a minimal fee.  There’s no better deal in the market today for the purchase of a new construction home!  If you’d like to learn more about our Buyers Best Program, please contact an Investors Mortgage Professional today.

Reverse Mortgages:
Reverse Mortgages are available for homeowners ages 62 and up to supplement retirement income.  For details on how a reverse mortgage works, and to see if you are eligible, please contact an Investors Mortgage Professional.

1 Available in the following counties: Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, Warren, all the boroughs of New York City and Nassau County NY.  97% of purchase price, provided that it is not restricted by mortgage insurance in declining / distressed areas on Investors Home Mortgage portfolio and Fannie Mae products. Cash out refinances are allowed only for debt consolidation and 20% equity is required. Condos must meet normal condominium requirements

2 Subject to credit approval. Fees may apply for the float down option

 

Fixed Rate versus Adjustable Rate

There are two different kinds of loan types to consider when buying or refinancing your home- fixed or adjustable rate mortgages.  Both of these loan options are available on conforming conventional loan amounts, jumbo loans and FHA programs.  

Fixed Rate Mortgage:
A fixed rate mortgage is the most popular type of loan program that Investors offers.  With a fixed rate product, you obtain the security of a consistent interest rate (and payment) over the entire life of your loan.  A fixed rate may be right for you if you’re planning on living in your home for a long period of time, or if you like consistency in your budget.  The overall interest you will pay on a fixed rate mortgage will depend on the overall term of the loan.  For example, a 15-year fixed rate mortgage will allow you to own your home in half the time than a 30-year fixed rate mortgage. The tradeoff here is that your payment will typically be higher for the 15-year term, but your mortgage will be paid off in about half the time.  One way to get a reduced rate on a fixed rate mortgage would be to consider a Bi-Weekly Mortgage Program.

Adjustable Rate Mortgage (ARM):
Investors Home Mortgage offers 3, 5, 7, and 10 year adjustable rate mortgage programs (also known as an ARM program).  An adjustable rate mortgage is a type of loan product that offers an interest rate that is lower than your standard fixed rate products. The difference here is that the interest rate can change over time.  Higher interest rates in the future could potentially lead to a higher mortgage payment for you down the road.  In essence, you’re receiving a lower interest rate now (and paying a lower rate now) in exchange for the risk in a possible rate increase in the future.  With most Adjustable Rate Mortgages, your interest rates (and thus your payments) are fixed for an initial period of time.  At the end of this time period, your interest rate may change (adjust) every year based on the industry.  For example, let’s say you decide to take out a 7 year ARM, your rate is guaranteed to remain the same for the first seven years, but is subject to change annually after this time period.  The potential change in your rate is based on an index.  If the index rate increases, it is likely that your mortgage rate will also increase.  At the same time, if the index goes down, your payment may decrease.  The index will be based on the weekly average yield on the United States Treasury.  Interest rate caps are applied to your Adjustable Rate in order to limit the amount of change that can occur on your interest rate over the life of your loan.  At Investors, each loan is limited to a 2% annual adjustment from the previous rate and an overall 5% adjustment from the initial rate given to you when the loan is taken out. 

Making sure that you are comfortable with your monthly payment is an extremely important financial decision.  Choosing which loan product is directly related to the way you’ll make your monthly payments.  Please contact one of our Professional Mortgage Consultants to discuss all your options in great detail.

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    Investors Home Mortgage
    249 Millburn Avenue
    Millburn, NJ 07041
 
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