Residential Mortgage Rates - Fixed Rate Programs Last Updated: October 15, 2024
| Effective 10/15/2024 | no | ||||
|---|---|---|---|---|---|
| 30 Year Fixed*: | 6.875% 6.875% 7.000% | $6.57 $6.57 $6.65 | 0.0% 0.0% 0.0% | 6.946% 6.943% 7.066% | $766,500 $1MM $1.5MM |
| 20 Year Fixed: | 6.625% 6.625% 6.750% | $7.53 $7.53 $7.60 | 0.0% 0.0% 0.0% | 6.715% 6.710% 6.832% | $766,500 $1MM $1.5MM |
| 15 Year Fixed: | 5.750% 5.750% 5.875% | $8.30 $8.30 $8.37 | 0.0% 0.0% 0.0% | 5.848% 5.842% 5.963% | $766,500 $1MM $1.5MM |
| 10 year Fixed: | 5.625% 5.625% 5.750% | $10.91 $10.91 $10.98 | 0.0% 0.0% 0.0% | 5.761% 5.753% 5.873% | $766,500 $1MM $1.5MM |
| 7 Year Fixed: | 5.375% 5.375% 5.500% | $14.31 $14.31 $14.37 | 0.0% 0.0% 0.0% | 5.556% 5.545% 5.662% | $766,500 $1MM $1.5MM |
Purchases & Refinance Owner Occupied Residence (Primary & Secondary):
Loan amounts up to $766,500 require 95% LTV for purchase and 90% for refinance**
Loan Amounts of $766,501 to $1,000,000 require 80% LTV and $1,000,001 to $1.5MM require 75% LTV
**PMI (Privat Mortgage Insurance) is required for LTV’s greater than 80%.
Investment Properties (1-4 Family)
Eligible for all ARM programs except 1/1/30 (Add .75% to Rate)
Eligible for 7, 10, 15, 20 Year Fixed Rate programs (Add .75% to Rate)
Purchase and No Cash-Out Refinance max. LTV of 75%; Cash-Out Refinance max LTV of 65%
Maximum Loan Amount of $550,000 on Investment Properties.
Fee Schedule:
Application Fee: $250.00.
Appraisal Fee: varies by property value – estimate between $535.00 and $800.00.
Credit Report Fee: $73.62 for one borrower, $146.98 for two borrowers.
Tax Return Verification Fee: $14.66 for two years.
Flood Determination Certification: $10.00.
Attorney Review Fee: $300.00 (Payable at Closing).
Residential Mortgage Rates - Adjustable Rate Program Last Updated: October 15, 2024
| Effective 10/15/2024 | ||||||
|---|---|---|---|---|---|---|
| 1/1/30: | 6.125% | $6.08 | 0.0% | 6.756% | $766,500 | 12 monthly payments of $4,657.33, 347 monthly payments of $4,964.78, 1 monthly payment of $4,961.55 |
no | 6.125% | $6.08 | 0.0% | 6.752% | $1MM | 12 monthly payments of $6,076.11, 347 monthly payments of $6,477.20, 1 monthly payments of $6,480.66 |
no | 6.250% | $6.16 | 0.0% | 6.761% | $1.5MM | 12 monthly payments of $9,235.76, 347 monthly payments of $9,718.54, 1 monthly payments of $9,721.60 |
| 3/1/30: | 6.250% | $6.16 | 0.0% | 6.685% | $766,500 | 36 monthly payments of $4,719.47, 323 monthly payments of $4,954.96, 1 monthly payments of $4,958.68 |
no | 6.250% | $6.16 | 0.0% | 6.682% | $1MM | 36 monthly payments of $6,157.17, 323 monthly payments of $6,464.40, 1 monthly payments of $6,465.58 |
no | 6.375% | $6.24 | 0.0% | 6.712% | $1.5MM | 36 monthly payments of $9,358.05, 323 monthly payments of $9,704.92, 1 monthly payment of $9,701.37 |
| 5/1/30: | 6.375% | $6.24 | 0.0% | 6.666% | $766,500 | 60 monthly payments of $4,781.96, 299 monthly payments of $4,950.30, 1 monthly payments of $4,948.91 |
no | 6.375% | $6.24 | 0.0% | 6.662% | $1MM | 60 monthly payments of $6,238.70, 299 monthly payments of $6,458.31, 1 monthly payments of $6,459.55 |
no | 6.500% | $6.32 | 0.0% | 6.710% | $1.5MM | 60 monthly payments of $9,481.02, 299 monthly payments of $9,701.54, 1 monthly payments of $9,697.96 |
| 7/1/30: | 6.500% | $6.32 | 0.0% | 6.687% | $766,500 | 84 monthly payments of $4,844.80, 275 monthly payments of $4,951.18, 1 monthly payments of $4,949.57 |
no | 6.500% | $6.32 | 0.0% | 6.683% | $1MM | 84 monthly payments of $6,320.68, 275 monthly payments of $6,459.46, 1 monthly payments of $6,459.49 |
no | 6.625% | $6.40 | 0.0% | 6.746% | $1.5MM | 84 monthly payments of $9,604.66, 275 monthly payments of $9,709.24, 1 monthly payments of $9,706.53 |
| 10/1/30: | 6.750% | $6.49 | 0.0% | 6.820% | $766,500 | 359 monthly payments of $4,971.50, 1 monthly payments of $4,976.53 |
no | 6.750% | $6.49 | 0.0% | 6.816% | $1MM | 359 monthly payments of $6,485.98, 1 monthly payments of $6,486.97 |
no | 6.875% | $6.57 | 0.0% | 6.898% | $1.5MM | 120 monthly payments of $9,853.93, 239 monthly payments of $9,758.33, 1 monthly payments of $9,757.96 |
All ARM Programs – Index, Margin & CAPS:
Index: 1 Year US Treasury Security Weekly Average
Margin: 2.75%
Max. & Min. 2.00% Periodic Adjustments / 6.00% Lifetime Cap
*Annual Percentage Rate (APR) – The APR may vary based on loan amount. May be increased after closing for Adjustable Rate Mortgage (ARM).
Displayed interest rates are for 1-4 family owner-occupied dwellings in New Jersey.
Purchases & Refinance Owner Occupied Residence (Primary & Secondary):
Loan amounts up to $766,500 require 95% LTV for purchase and 90% for refinance**
Loan Amounts of $766,501 to $1,000,000 require 80% LTV and $1,000,001 to $1.5MM require 75% LTV
**PMI (Privat Mortgage Insurance) is required for LTV’s greater than 80%.
Investment Properties (1-4 Family)
Eligible for all ARM programs except 1/1/30 (Add .75% to Rate)
Eligible for 7, 10, 15, 20 Year Fixed Rate programs (Add .75% to Rate)
Purchase and No Cash-Out Refinance max. LTV of 75%; Cash-Out Refi max 65% LTV
Maximum Loan Amount of $550,000
Fee Schedule:
Application Fee: $250.00.
Appraisal Fee: varies by property value – estimate between $535.00 and $800.00.
Credit Report Fee: $73.62 for one borrower, $146.98 for two borrowers.
Tax Return Verification Fee: $14.66 for two years.
Flood Determination Certification: $10.00.
Attorney Review Fee: $300.00 (Payable at Closing).
Home Equity Loan Rates Last Updated: October 10, 2024
| Effective 10/10/2024 | ||||
|---|---|---|---|---|
| Loan Type | Interest Rate** | APR | Property Type | Maximum Loan Amount |
| 5 year fixed Home Equity Loan | no | no | no | no |
| 1st lien | 6.125% | 6.146% | 1-4 Family | $500,000 |
| 2nd lien | 6.625% | 6.655% | 1-4 Family | $350,000 |
| 10 yr Fixed Home Equity Loan | no | no | no | no |
| 1st lien | 6.375% | 6.386% | 1-4 Family | $500,000 |
| 2nd lien | 6.750% | 6.766% | 1-4 Family | $350,000 |
| 15 yr Fixed Home Equity Loan | no | no | no | no |
| 1st lien | 6.500% | 6.508% | 1-4 Family | $500,000 |
| 2nd lien | 7.125% | 7.137% | 1-4 Family | $350,000 |
| 20 yr Fixed Home Equity Loan | no | no | no | no |
| 1st lien | 7.000% | 7.006% | 1-4 Family | $500,000 |
| 2nd lien | 7.500% | 7.509% | 1-4 Family | $350,000 |
Notations for Interest Rates on Home Equity Loans
** Interest rate discount is available. If monthly loan payments will be deducted from qualified NVE checking account, which maintains $2,500.00 monthly collected balance, the interest rate will be 0.50% lower resulting in a lower APR (Annual Percentage Rate).
Loan to Value Limitations & Other Notations for Home Equity Loans Accounts
75% of the appraised value of the combined 1st & 2nd loan amounts up to $500,000.
65% of the appraised value of the combined 1st & 2nd loan amounts of $500,001 to $750,000.
Non-NVE 1st lien mortgage balance cannot exceed $500,000.
Combined 1st and 2nd lien mortgage balances cannot exceed $750,000.
Fees:
Application Fee of $250 and Mortgage Recording Fee of up to $115.
Home Equity Line of Credit Rates Last Updated: November 12, 2024
| Effective 11/8/2024 | ||||||
|---|---|---|---|---|---|---|
| HELOC Program | Draw Period | Repayment Term | Total Term | ARM | Floor | Repayment Terms |
| 1 year / 20 year | 1 year | 20 years | 21 years | 7.750% fixed during draw period then Prime floating monthly during repayment | 7.750% during repayment period | Interest only payments during the draw period will be equal to the amount of accrued finance charges on the last day of the billing cycle. Principal plus Interest payments during the repayment period will be equal to the accrued finance charge on the last day of the billing cycle plus .417% of the principal balance outstanding on the last day of the draw period. A minimum principal payment of $50.00 will be required. |
| 5 year / 20 year | 5 years | 20 years | 25 years | Prime floating monthly (currently 7.750%) | 7.750% | Interest only payments during the draw period will be equal to the amount of accrued finance charges on the last day of the billing cycle. Principal plus Interest payments during the repayment period will be equal to the accrued finance charge on the last day of the billing cycle plus .417% of the principal balance outstanding on the last day of the draw period. A minimum principal payment of $50.00 will be required. |
Loan to Value Limitations & Other Notations for Home Equity Lines of Credit Accounts:
The Annual Percentage Rate (APR) for the 1 Yr Draw HELOC is fixed at 7.750% for the draw period.
The APR for the 5 Yr Draw HELOC is the Prime Rate (based on WSJ) currently 7.750%; Floor 7.750%, ceiling 15.000% for both products; During the draw periods, payments are interest only for both products and both 20 yr repayment.
The minimum credit advance that borrower can receive is $1,000.
Maximum lifetime APR 15.000%
75% of the appraised value of the combined 1st & 2nd loan amounts up to $500,000.
65% of the appraised value of the combined 1st & 2nd loan amounts of $500,001 to $750,000.
Non-NVE 1st lien mortgage balance cannot exceed $500,000
Combined 1st and 2nd lien mortgage balances cannot exceed $750,000
Fees:
Application Fee of $350 and Mortgage Recording Fee of up to $115.
Auto Loan Rates Last Updated: October 10, 2024
| Effective 10/10/2024 | ||||
|---|---|---|---|---|
| Loan Type | Interest Rate | APR | Model Year | Maximum Loan Amount |
| New Auto | no | no | no | no |
| 3 Year | 8.250% | 8.250% | 2024 - 2025 | $40,000 |
| 4 Year | 8.500% | 8.500% | 2024 - 2025 | $40,000 |
| 5 Year | 8.750% | 8.750% | 2024 - 2025 | $40,000 |
| Used Auto | no | no | no | |
| 3 Year | 8.500% | 8.500% | 2022 - 2025 | $20,000 |
Notations for Automobile Loans (vehicle must be titled in NJ)
Available for autos registered in New Jersey (excluding residents of Atlantic, Burlington, Cape May, Cumberland, Gloucester and Salem counties)
90% maximum loan to value for new automobile loans
80% maximum loan to value for used automobile loans
Fees: Recording Fee of up to $85.
