1 - 4 Family Investment Properties (for business use only)

Blue Foundry Bank offers the following unique mortgage loan options for 1-4 family investment properties held in the name of an individual. These low cost loan products provide a great vehicle to help you achieve all of your investment property goals.


Adjustable Rate Mortgages

Rates as of Wednesday, February 15, 2023

Product DescriptionInterest RatePointsMonthly Payment per $1,000Monthly Payments
10/1/30 Year ARM
10/1/30 Year ARM6.500%0.000$6.32Show Payments
7/1/30 Year ARM
7/1/30 Year ARM6.250%0.000$6.16Show Payments
5/1/30 Year ARM
5/1/30 Year ARM6.000%0.000$6.00Show Payments

Above rates, and terms apply to 1-4 family, purchases and refinances in amounts up to $1,500,000 on properties located in Northern New Jersey. Rates may vary subject to loan amount, loan-to-value ratio, purpose of loan, credit rating, etc. Rates are subject to change without notice. Payments shown do not include applicable taxes and insurance. Actual payment obligation will be greater. Property Insurance required. Flood Insurance may be required. LTV maximum of 75% for 1-4 family properties and 70% LTV maximum for a condominium.  Minimum Loan Amount $150,000 on cash out refinance loans.  

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.

Fixed Rate Mortgages

Rates as of Wednesday, February 15, 2023

Product DescriptionInterest RatePointsMonthly Payment per $1,000Monthly Payments
Fixed Rate Mortgages
15 Year6.875%0.000$8.92Show Payments

Above rates, and terms apply to 1-4 family, purchases and refinances in amounts up to $1,500,000 on properties located in Northern New Jersey. Rates may vary subject to loan amount, loan-to-value ratio, purpose of loan, credit rating, etc. Rates are subject to change without notice. Payments shown do not include applicable taxes and insurance. Actual payment obligation will be greater. Property Insurance required. Flood Insurance may be required. LTV maximum of 75% for 1-4 family properties and 70% LTV maximum for a condominium.  Minimum Loan Amount $150,000 on cash out refinance loans.