1 - 4 Family Owner Occupied Properties

Blue Foundry Bank offers the following mortgage loan options for 1-4 family owner occupied properties. These low cost loan products provide a great vehicle to help you achieve your dreams.


Fixed Rate Mortgages

Rates as of Friday, September 4, 2020

Product DescriptionInterest RatePointsAPRMonthly Payment per $1,000Monthly Payments
Fixed Rate Mortgages
30 Year Fixed 1 2.875%0.0002.915%$4.15Show Payments
15 Year Fixed 12.650%0.0002.723%$6.74Show Payments

Annual Percentage Rate (APR) is based on a loan amount of $300,000.

1 The interest rate and APR shown for the 30 and 15 Year Fixed products include a .125% discount when loan payments are automatically deducted from a Blue Foundry Bank Axis checking or Axis savings account.  If at any time during the term of the loan the automatic payment deduction is discontinued, the interest rate and APR will increase.

Rates quoted above are for loan amounts up to $510,400 for the purchase or refinance of an existing single-family home, primary residence located in New Jersey, assumes a 70% combined loan to value ratio and a credit score of 740.  Your actual rate will depend upon several factors, including but not limited to, the loan amount, loan type, occupancy, property type, loan purpose, your credit score and property value.  Private Mortgage Insurance is required for down payments less than 20%.  Property insurance required and flood insurance may be required.  Payments shown do not include taxes, property insurance or monthly mortgage insurance, if applicable.  Your actual payment obligation will be greater.  The rate lock period is 90 days and rate subject to change to market conditions thereafter.  Other terms and conditions may apply.  Rates are subject to change without notice. All loans are subject to credit approval.  Contact a mortgage advisor for more information by calling 201-683-8800.

Adjustable Rate Mortgages

Rates as of Friday, September 4, 2020

Product DescriptionInterest RatePointsAPRMonthly Payment per $1,000Monthly Payments
10/1/30 ARM
10/1/30 ARM3.500%0.0003.542%$4.49Show Payments
7/1/30 ARM
7/1/30 ARM3.375%0.0003.416%$4.42Show Payments
5/1/30 ARM
5/1/30 ARM3.375%0.0003.416%$4.42Show Payments

Annual Percentage Rate (APR) is based on a loan amount of $300,000.

Rates quoted above are for loan amounts up to $510,400 for the purchase or refinance of an existing single-family home, primary residence located in New Jersey, assumes a 70% combined loan to value ratio and a credit score of 740.  Your actual rate will depend upon several factors, including but not limited to, the loan amount, loan type, occupancy, property type, loan purpose, your credit score and property value.  Private Mortgage Insurance is required for down payments less than 20%.  Property insurance required and flood insurance may be required.  Payments shown do not include taxes, property insurance or monthly mortgage insurance, if applicable.  Your actual payment obligation will be greater. The rate lock period is 90 days and rate subject to change to market conditions thereafter.  Other terms and conditions may apply.  Rates are subject to change without notice. All loans are subject to credit approval.  Contact a mortgage advisor for more information by calling 201-683-8800. 

For Adjustable Rate Mortgage (ARM) loans, your rate will adjust annually after the initial term of 5, 7 or 10 years.  Adjustments will be based on an index plus margin.  The index used is the weekly average of U.S. Treasury Securities adjusted to a constant maturity of one year, plus a margin of 2.75%.  At each adjustment period the rate cannot increase more than 2% nor can it increase more than 6% above the initial interest rate over the life of the loan.