Loan Rates
Effective 11:30am July 22, 2010. Call for current rate information.
FIRST MORTGAGE LOANS (maximum $2,500,000)*
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** | 4.125% | 3.262% | $4.85 | |
| 3YR. ARM - 36 Payments of $484.65 at an interest rate of 4.125% - 323 Payments of $426.41 at an interest rate of 3.00% & 1 Payment of $425.82 at an interest rate of 3.00% | ||||
| 5-year, Fixed-Rate converting to a 1-year ARM** | 4.125% | 3.408% | $4.85 | |
| 5YR. ARM - 60 Payments of $484.65 at an interest rate of 4.125% - 299 Payments of $429.78 at an interest rate of 3.00% & 1 Payment of $ 426.30 at an interest rate of 3.00% | ||||
| 5/1 ARM Interest Only** | 4.375% | 3.481% | $3.64 | |
| 5YR. ARM - INT. ONLY - 60 Payments of $364.58 at an interest rate of 4.375% - 299 Payments of $474.22 at an interest rate of 3.00% & 1 Payment of $470.35 at an interest rate of 3.00% | ||||
| 7-year, Fixed-Rate converting to a 1-year ARM** | 4.375% | 3.660% | $5.00 | |
| 7YR. ARM - 84 Payments of $499.29 at an interest rate of 4.375% - 275 Payments of $435.70 at an interest rate of 3.00% and 1 Payment of $432.92 at an interest rate of 3.00% | ||||
| 7/1 ARM Interest Only** | 4.625% | 3.747% | $3.85 | |
| 7YR. ARM - INT. ONLY - 84 Payments of $385.42 at an interest rate of 4.625% - 275 Payments of $502.02 at an interest rate of $3.00% & 1 Payment of $500.53 at an interest rate of 3.00% | ||||
| 10-year, Fixed-Rate converting to a 1-year ARM** | 4.625% | 4.026% | $5.15 | |
| 10 YEAR ARM - 120 Payments of $514.14 at an interest rate of 4.625% - 239 Payments of $445.94 at an interest rate of 3.00% and 1 Payment of $445.33 at an interest rate of 3.00% | ||||
| 10/1 ARM Interest Only** | 4.875% | 4.127% | $4.06 | |
| 10 YEAR ARM - INT. ONLY - 120 Payments of $406.25 at an interest rate of 4.875% - 239 pmts of $554.60 at at an interest rate of 3.00% & 1 Payment of $553.81 at an interest rate of 3.00% | ||||
| 15/30 Fixed Rate Balloon to $750,000 | 4.875% | 4.889% | $5.30 | |
| 15/30 Fixed Rate Balloon > $750,000 < $1,500,000 | 5.000% | 5.009% | $5.37 | |
| 10-year, Fixed-Rate to $750,000 | 4.250% | 4.278% | $10.25 | |
| 10-year Fixed Rate > $750,000 < $1,500,000 | 4.250% | 4.268% | $10.25 | |
| 15-year Fixed Rate to $750,000 | 4.375% | 4.395% | $7.59 | |
| 15-year Fixed Rate > $750,000 < $1,500,000 | 4.375% | 4.387% | $7.59 | |
| 15-year Agency Conforming to $417,000 | 4.000% | 4.040% | $7.40 | |
| 20-year, Fixed-Rate to $750,000 | 4.625% | 4.641% | $6.40 | |
| 20-year Fixed Rate > $750,000 <$1,500,000 | 4.625% | 4.635% | $6.40 | |
| 30-year Agency Conforming to $417,000 | 4.500% | 4.523% | $5.07 | |
| 30-year Fixed Rate to $750,000 | 5.125% | 5.137% | $5.45 | |
| 30-year Fixed Rate > $750,000 < $1,500,000 | 5.375% | 5.382% | $5.60 | |
*Add 0.25% to the interest rate for loans over $1,500,000.00
Add 0.125% to the interest rate for all New York Loans
Add 0.125% to the interest rate for all Co-ops
Other 30-year Fixed Conforming Programs and rates are available.
**Adjustable Rate Mortgages are variable and may increase or decrease after consummation.
*** Need to meet program criteria.
Biweekly mortgage payments are available on Fixed Rate Loans (must have direct deposit into an Investors Savings Bank account with auto-debit to qualify for 0.125 rate reduction).
Rate buy-downs are available.
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 5.500% (APR = 5.519%)
Private mortgage insurance is required on all loans with less than 20% down payment
Annual percentage rates and fees are subject to change without notice.
FHA Mortgage loans available
Click here for application.
HOME EQUITY PRODUCTS
We offer the following products with no application fee and no appraisal fee:
Fixed Rate Equity Loans (maximum $500,000)
| Program | APR* | Monthly Cost per $1,000 |
|---|---|---|
| 3-year | 4.250% | $29.64 |
| 5-year | 4.500% | $18.65 |
| 10-year | 4.990% | $10.61 |
| 15-year | 5.250% | $8.04 |
| 20-year | 5.490% | $6.88 |
| 25-year | 5.750% | $6.30 |
| 30-year | 5.990% | $6.00 |
Homeowners Consumer Loan (maximum $10,000)
| Program | APR* | Monthly Cost per $1,000 |
|---|---|---|
| Up to 5-years | 7.000% | $19.81 |
*Rates shown include 1/4% rate reduction with automatic payment deducted from a checking account at Investors Savings Bank.
Click here for application.
Equity Credit Line (maximum $500,000)
4.00% APR*
* Annual Percentage Rate: is variable and adjusts according to the Prime Rate as published in the Wall Street Journal. Prime Rate is currently 3.25%. To obtain a rate discount of .25%, you must have your monthly payments automatically debited from an Investors Savings Bank checking account. However, in no event will the interest rate ever exceed 15.00% or be less than 4.00%.
Click here for application.
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.
| 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 Special Home Improvement Loan
All Annual percentage rates and fees are subject to change without notice.
