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 your name or in the name of a business (LLC, Partnership, etc.). 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 Tuesday, June 11, 2019 | ||||
| Product Description | Interest Rate | Points | Payment per $1,000 | Payments |
| 10/5/30 Year ARM | ||||
| 10/5/30 Year ARM | 4.980% | 0.000 | $5.36 | Show Payments |
| 7/5/30 Year ARM | ||||
| 7/5/30 Year ARM | 4.700% | 0.000 | $5.19 | Show Payments |
| 5/5/30 Year ARM | ||||
| 5/5/30 Year ARM | 4.625% | 0.000 | $5.14 | 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 5 years. The rate may increase after consummation of the loan. The Index is the Weekly Average Yield of Five Year Treasury Securities, as made available by the Federal Reserve Board + 2.75% Margin. There is a 3% Rate Cap per Adjustment. Condominium loans are limited to a 70% LTV.
Fixed Rate Mortgages
Rates as of Tuesday, June 11, 2019 | ||||
| Product Description | Interest Rate | Points | Payment per $1,000 | Payments |
| Fixed Rate Mortgages | ||||
| 15 Year | 4.804% | 0.000 | $7.81 | 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.
