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	5.00%	5.23%	7.9
25 yr	5.25%	5.27%	5.99
30 yr	5.50%	5.51%	5.67

Loans with less than 80% LTV will require private mortgage insurance. Maximum LTV is 90%. 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 loans to LLC’s, partnerships, corporations add another .5% to the rate. For jumbo loans add another .5% to the rate. The application fee is waived under First Time Homebuyers program. All properties must be in New Jersey and require property insurance

Multi Family - Mixed Use - Commercial - "A" Credit - 1.2 DSR
	Term	Interest Rate	APR	Payment per $1000
Multi-Family - 25% Down	15 Year	6.25%	6.33%	8.57
Multi-Family - 20% Down	15 Year	6.75%	6.83%	8.84
Mixed/Commerical - 30% Down	15 Year	6.25%	6.33%	8.57
Mixed/Commerical - 25% Down	15 Year	6.75%	6.83%	8.84

Properties should have a 1.2 debt service ratio

Rates Effective February 3, 2010.