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Mortgage Center

Purchasing a new home or refinancing your current home is exciting and a little scary. Roselle Savings Bank will help you choose the mortgage product that best suits your needs and walk you through process from application to closing. Choosing a lender is an important decision, so choose a bank with more than 125 years of experience. We have specialized programs for first time home buyers, and low income and moderate income borrowers. For current rates and more information or to begin the application process, visit our online Mortgage Center. If you prefer, you can call or visit our main office during banking hours and our lending department would be happy to answer questions you may have about our lending process.

Type of Loan (3) Rate APR Points Monthly Payment Per $1,000 Borrowed (3)
Loans $750,000 or Less (Maximum LTV <90%)
30 Year Fixed Rate 4.625% 4.662% (1) 0.000%
360 payments of $5.15 per $1,000
borrowed at an interest rate of 4.625%
15 Year Fixed Rate 4.000% 4.063% (1) 0.000%
180 payments of $7.40 per $1,000
borrowed at an interest rate of 4.000%
10 Year Fixed Rate 3.750% 3.840% (1) 0.000%
120 payments of $10.01 per $1,000
borrowed at an interest rate of 3.750%
5/1 30 Year Adjustable Rate (4) 4.000% 4.742% (1) 0.000% See below (4)
7/1 30 Year Adjustable Rate (4) 4.250% 4.735% (1) 0.000% See below (4)
10/1 30 Year Adjustable Rate (4) 4.500% 4.766% (1) 0.000% See below (4)
Loans $750,000 to $1,000,000 LTV 80%
30 Year Fixed Rate 4.875% 4.888% (2) 0.000%
360 payments of $5.30 per $1,000
borrowed at an interest rate of 4.875%
15 Year Fixed Rate 4.125% 4.147% (2) 0.000%
180 payments of $7.46 per $1,000
borrowed at an interest rate of 4.125%
10 Year Fixed Rate 3.875% 3.906% (2) 0.000%
120 payments of $10.07 per $1,000
borrowed at an interest rate of 3.875%
First Time Home Buyer - $450,000 or Less (Maximum LTV< 90%)
30 Year Fixed Rate 4.000% 4.036% (1) 0.000%
360 payments of $4.78 per $1,000
borrowed at an interest rate of 4.000%

1The APR (Annual Percentage Rate) is based on a mortgage amount of $250,000.

2The APR (Annual Percentage Rate) is based on a mortgage amount of $800,000.

3For All Loans:

  • APR=Annual Percentage Rate

  • LTV=Loan-to-Value

  • Monthly payment amounts stated above consist of principal & interest amounts only and do not include property taxes, hazard insurance, and/or flood insurance premiums (if applicable). Your actual payment obligation will be greater.

  • To see what your monthly principal and interest payment would be, divide your mortgage amount by $1,000; then multiply the monthly payment by that amount. (For example, the monthly payment for a 30 Year Fixed Rate mortgage amount of $250,000 would be: $250,000 ÷ $1,000 = 250; 250 x $4.92 = $1,230.00 principal and interest payment per month.)

4For Adjustable Rate Loans:

  • The interest rate and APR may be increased after consummation.

  • On a 5/1 30 Year Adjustable Rate, the interest rate will not change for the first 60 months of the loan. After the first 60 months, the interest rate can change yearly.

    • 60 payments of $4.77 per $1,000 borrowed at an interest rate of 4.000%

    • 300 payments of $5.92 per $1,000 borrowed at an interest rate of 5.125%
  • On a 7/1 30 Year Adjustable Rate, the interest rate will not change for the first 84 months of the loan. After the first 84 months, the interest rate can change yearly.

    • 84 payments of $4.92 per $1,000 borrowed at an interest rate of 4.250%
    • 276 payments of $6.18 per $1,000 borrowed at an interest rate of 5.125%
  • On a 10/1 30 Year Adjustable Rate, the interest rate will not change for the first 120 months of the loan. After the first 120 months, the interest rate can change yearly.

    • 120 payments of $5.07 per $1,000 borrowed at an interest rate of 4.500%
    • 240 payments of $6.67 per $1,000 borrowed at an interest rate of 5.125%
  • The interest rate cannot increase or decrease more than 2 percentage points per year.

  • The initial interest rate cannot increase or decrease more than 6 percentage points over the term of the loan.

  • The interest rate cannot be less than 3 percent over the term of the loan.

 

Available to individuals residing in the New Jersey Counties of Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Passaic, Somerset, Sussex, Union and Warren.

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