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, bi-weekly payment plans and construction loan financing. 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
Term	Rate	APR	Points	Index	Margin
10 yr	5.75%	5.856%	0	N/A	N/A
15 yr	6.000%	6.074%	0	N/A	N/A
20/25	6.250%	6.314%	0	N/A	N/A
30 yr	6.500%	6.552%	0	N/A	N/A

Lock-in at time of application or float until commitment. For Jumbo loans add .25% to the rate. For investor properties or second homes, add .50% to the rate. For other non-confirming, add .50% or more to the rate depending on the risk. Loans over 85% will require private mortgage insurance. Maximum LTV, other than First Time Homebuyers, is 90%. The application fee is waived under this FTH program.

Multi Family - Mixed Use - Commercial
	15 Year	APR	20 Year	APR
Multi-Family - 25% Down	7.000%	7.092%	7.500%	7.584%
Multi-Family - 20% Down	7.500%	7.603%	8.000%	8.089%
Mixed/Commerical - 30% Down	7.000%	7.092%	7.500%	7.584%
Mixed/Commerical - 25% Down	7.500%	7.603%	8.000%	8.089%

Properties should have a 1.2 debt service ratio

"770 Product"
A no income verification and no asset verification product requiring at least 700 credit scores and a maximum LTV of 70%. Applies to one to four owner occupied properties only.
Term	Rate	APR
30 Year	7.250%	7.348%