Pamrapo Savings Bank Mortgage Loans

Mortgage Loans
Pamrapo has been making home-ownership dreams come true for more than a century. We are a portfolio lender, serving communities throughout New Jersey for more than a century. Our combination of competitive rates, personal service and knowledgeable staff is hard to beat. We can help you purchase or refinance your primary residence, second home, investment property, condominium, multi-family, mixed use or commercial property. We also offer jumbo loans and bi-weekly payment plans. All properties must be in New Jersey. Call us today at (201) 339-4600 and speak with one of our lending specialists.
1-4 Family Properties - "A" Credit
Term	Interest Rate	APR	Payment per $1000
15 yr	5.75%	5.78%	8.3
20 yr	6.00%	6.03%	7.16
30 yr	6.25%	6.27%	6.15

Maximum LTV is 80%. For Jumbo loans, maximum LTV is 70% and rate is .5% over the conforming rate. For investor properties or second homes, add .50% to the rate. The application fee of $200 is waived for First Time Homebuyers. All properties must be in New Jersey and require property insurance. Flood insurance may be required. Escrow for real estate taxes is required and escrow for homeowners and flood insurance may be required.

Multi Family - Mixed Use - Commercial - "A" Credit - 1.2 DSR
	Term	Interest Rate	APR	Payment per $1000
Multi-Family - 25% Down	15 Year	7.00%	7.04%	8.99
Mixed/Commerical - 30% Down	15 Year	7.00%	7.04%	8.99

Properties should have a 1.2 debt service ratio. All properties must be in New Jersey and require property insurance. Flood insurance may be required.

Rates Effective March 17, 2010.