| Equity
Loans |
|
Our fixed rate Home Equity Loan may be just what you need. If you are making improvements to your home, buying a car or boat, sending a child to college, consolidating your debt or refinancing your mortgage, we can help you achieve your goals. In addition to owner-occupied 1-4 family dwellings and individual condominiums, we also grant equity loans on second homes, investment properties, multi-family, mixed-use properties,
and commercial properties. All properties must be in New Jersey.
- Maximum loan is $350,000
- Maximum loan-to-value is 80% for 1-4 family properties and
75% for other property types
- Terms vary from 5 to 20 years
|
| One
to Four Family Units - Primary Residence |
|
Rate |
APR |
Term |
Max
LTV |
|
6.000% |
6.200% |
5
Years |
80.00% |
| 6.250% |
6.364% |
10
Years |
80.00% |
|
6.500% |
6.586% |
15
Years |
80.00% |
|
All
interest rates assume automatic payment from a Pamrapo
checking or statement savings account. Rates will be increased
by .5% on one to four family investment properties. For loans up to $150,000, the fee is $150.
For loans over $150,000 title work may be required. For
loans $250.000 and over, an appraisal is required. Borrower
is responsible for any title and appraisal fees in addition
to the application fee.
|
| Multi Family or Mixed Use
Properties |
|
Rate |
APR |
Term |
Max
LTV |
| 7.500% |
7.603% |
15
Years |
75.00% |
All properties must be in New Jersey.
Rate assumes automatic payment from a Pamrapo checking or statement
savings account. For loans up to $150,000, the fee is $150. For loans
over $150,000 title work may be required. For loans $250.000 and
over, an appraisal is required. Borrower is responsible for any
title and appraisal fees in addition to the application fee.
|
