Pamrapo Savings Bank Equity Loans

Equity Loans
Our fixed rate Home Equity Loan may be just what you need. If you are making improvements to your home, buying a car or boat, sending a child to college, consolidating your debt or refinancing your mortgage, we can help you achieve your goals. In addition to owner-occupied 1-4 family dwellings and individual condominiums, we also grant equity loans on second homes, investment properties, multi-family, mixed-use properties, and commercial properties. All properties must be in New Jersey.

One to Four Family Units - Primary Residence
Term	Interest Rate	APR	Payment per $1000
10 Years	6.50%	6.53%	11.35
Maximum loan is $250,000. Application fee is $150. Property insurance is required. Flood insurance may be required. Escrow for real estate taxes, homeowner’s and flood insurance may be required. All properties must be in New Jersey.
Multi Family - Maximum 70% LTV
Term	Interest Rate	APR	Payment per $1000
15 Years	7.50%	7.52%	9.27 Pamrapo must hold the 1st mortgage on the subject property.
Mixed Use and Commercial – Maximum 70% LTV
Term	Interest Rate	APR	Payment per $1000
15 Years	7.50%	7.52%	9.27 9.27 Pamrapo must hold the 1st mortgage on the subject property.

Rates Effective April 1, 2010.

Maximum loan is $250,000. Application fee is $200. Property insurance is required. All properties must be in New Jersey.