Loan Rates
Effective September 24, 2008
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*** | 5.625% | 5.075% | $5.76 |
| 5-year, fixed-rate converting to a 1-year ARM*** | 5.750% | 5.225% | $5.84 |
| 5/1 ARM Interest Only*** | 6.000% | 5.311% | $5.00 |
| 7-year, fixed-rate converting to a 1-year ARM*** | 6.000% | 5.458% | $6.00 |
| 7/1 ARM Interest Only*** | 6.250% | 5.564% | $5.21 |
| 10-year, fixed-rate converting to a 1-year ARM*** | 6.125% | 5.710% | $6.08 |
| 10/1 ARM Interest Only*** | 6.375% | 5.839% | $5.31 |
| 15/30 fixed rate balloon | 6.250% | 6.272% | $6.16 |
| 10-year, fixed-rate to $750,000 | 5.625% | 5.668% | $10.98 |
| 10-year fixed rate jumbo | 6.000% | 6.022% | $11.10 |
| 15-year fixed rate to $750,000 | 5.750% | 5.780% | $8.30 |
| 15-year fixed rate jumbo | 6.125% | 6.140% | $8.51 |
| 20-year, fixed-rate to $750,000 | 6.000% | 6.024% | $7.16 |
| 20-year fixed rate jumbo | 6.250% | 6.262% | $7.31 |
| 30 year fixed rate to $750,000 ** | 6.250% | 6.269% | $6.16 |
| Agency Conforming to $417,000.00 | Call for Quote | ||
| 30-year fixed rate jumbo | 6.500% | 6.509% | $6.32 |
*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
**Other 30 Year Fixed Rate Conforming Programs and Rates are available.
Biweekly mortgage payments are available on Fixed Rate Loans (must have direct deposit into an Investor Savings Bank account with autodebit 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 6.125% (APR = 6.144%)
FHA 30 year fixed interest rate available at 6.375% (APR = 6.394%)
Private mortgage insurance is required on all loans with less than 20% down payment
***Adjustable Rate Mortgages are variable and may increase or decrease after consummation.
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 | 5.625% | $30.26 |
| 5-year | 5.875% | $19.28 |
| 10-year | 6.125% | $11.17 |
| 15-year | 6.250% | $8.58 |
| 20-year | 6.500% | $7.46 |
| 25-year | 6.750% | $6.91 |
| 30-year | 6.990% | $6.65 |
Homeowners Consumer Loans (maximum $10,000)
| Program | APR* | Monthly Cost per $1,000 |
|---|---|---|
| Up to 5-years | 6.875% | $19.75 |
*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)
4.75% APR*
* Annual Percentage Rate is variable and adjusts according to the Prime Rate as published in The Wall Street Journal. Prime Rate is currently 5.00%. Minimum floor is 4.00% APR. Maximum lifetime cap is 15% APR. To obtain this rate, you must have your monthly payments automatically debited from an Investors Savings Bank checking account. Otherwise, the rate will be .25% higher.
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 $1000
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.
