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.
If you would like to apply using a paper application. Please Download.
Adjustable Rate Mortgages
Rates as of Monday, November 7, 2022 | ||||
| Product Description | Interest Rate | Points | Monthly Payment per $1,000 | Monthly Payments |
| 10/1/30 Year ARM | ||||
| 10/1/30 Year ARM | 6.500% | 0.000 | $6.32 | Show Payments |
| 7/1/30 Year ARM | ||||
| 7/1/30 Year ARM | 6.250% | 0.000 | $6.16 | Show Payments |
| 5/1/30 Year ARM | ||||
| 5/1/30 Year ARM | 6.000% | 0.000 | $6.00 | Show 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 75%. Minimum
Loan Amount $150,000 on cash out refinance loans. After the initial
rate lock period the following ARM loans adjust every year thereafter. The rate
may increase after consummation of the loan. The Index is the Weekly Average
Yield of One Year Treasury Securities, as made available by the Federal Reserve
Board + 3.00% Margin. There is no Lifetime
Cap. Condominium loans are limited to a 70% LTV.
Fixed Rate Mortgages
Rates as of Monday, November 7, 2022 | ||||
| Product Description | Interest Rate | Points | Monthly Payment per $1,000 | Monthly Payments |
| Fixed Rate Mortgages | ||||
| 15 Year | 7.125% | 0.000 | $9.06 | Show 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 75%. Minimum Loan Amount $150,000 on cash out refinance loans. Condominium loans are limited to a 70% LTV.
