Consumer Loan Rates
|
Product Name
|
Description
|
Maximum Collateral Values
(Loan to Value-LTV)
|
Term
|
APR
|
Monthly Payment
per $1,000
(Principal + Interest)
|
|
Personal Loan - Unsecured
|
Multi-purpose loan
|
N/A
|
48 months
|
12.25% *
|
$26.46
|
|
Personal Loan - Secured
|
Secured by tangible personal property (older model cars)
|
NADA "Retail" Value (NADA is an official used car guide)
|
60 months
|
8.25% *
|
$20.40
|
|
Overdraft Protection
|
Revolving line of credit linked to a personal non interest bearing Demand Deposit Account (DDA)
|
N/A
|
36 months
(1/36th of principal + interest)
|
18.00%
|
$42.78
|
|
Automobile New 2012-14
|
Foreign and domestic auto (Personal use only)
|
Retail Value (up to 100% financing is available)
|
Up to 72 months
|
Up to 48 months - 3.50% *
49-60 months - 3.74% * 61-72 months - 3.99% *
|
$22.36
$22.04 to $18.30
$18.14 to $15.64
|
|
Automobile Used
2009-13
|
Foreign and domestic auto (Personal use only)
|
NADA "Retail" Value (NADA is an official used car guide)
|
Up to 60 months
|
Up to 36 months - 3.74% * 37 to 48 months- 4.15% * 49-60 months - 4.74% *
|
$29.41
$28.84 to $22.65
$22.49 to $18.75
|
|
Automobile Used 2006-08
|
Foreign and domestic auto (Personal use only)
|
NADA "Retail" Value (NADA is an official used car guide)
|
Up to 48 months
|
Up to 36 months - 4.74% *
37-48 months - 5.39% *
|
$29.85
$29.40 to $23.21
|
|
HELOC
Home Equity
Line of Credit
Variable ***
|
Home Equity Multi Purpose Line of Credit
|
Owner Occupied 1-4 Family
80% LTV
Vacation Property Condominium/Townhouse
1 Family
65% LTV
Rental Property
1-4 Family
55% LTV
LTV = total of all liens against the property divided by the appraised value of the property.
Must be zoned Residential.
Storefront properties and co-ops are not acceptable.
Homeowners insurance is required.
|
Revolving
Principal & Interest Option
Payments equals 1/240 of principal plus interest for the month
or
Interest Only Option
For 10 Years
Then
Payments equals 1/180 of the principal plus interest for the month
|
Initial APR of 2.99%**
fixed for 12 months
then
Prime for Life of Line
Minimum APR: 3.75%**
Maximum APR: 18%**
Current APR: 3.75%**
Note:
Minimum payment is $50
Minimum Draw is $200
|
Principal + Interest Option
$6.66 (Initial APR**,
P&I 1/240)
$7.29 (Current APR**,
P&I 1/240)
Interest Only Option
$2.49 (Interest Only at Initial APR**)
$3.13 (Interest Only at current APR**)
$8.68 (Current APR**,
P&I 1/180)
|
|
Home Equity Loan Fixed ***
|
Home Equity Multi Purpose fully amortizing loan
|
Same as above (HELOC)
|
Terms to 240 months
|
36 - 60 months - 3.49% *
61- 120 months - 3.74% *
121 - 180 months - 3.99% * 181 - 240 months - 4.50% *
|
$29.30 to $18.19
$18.03 to $10.00
$10.05 to $7.39
$7.62 to $6.33
|
|
HEL Campaign
Home Equity Loan
Fixed ***
|
Home Equity Multi Purpose fully amortizing loan
|
1st lien only; Owner occupied NJ properties only; Same LTV as above (HELOC); No co-ops or storefront properties
|
Terms to 240 months
|
36 - 180 months - 3.65% *
181- 240 months - 3.99% *
|
$29.37 to $7.22
$7.36 to $6.05 |
* APR (Annual Percentage Rate): The APR's shown for Personal Unsecured, Personal Secured, Automobile and Home Equity loans include a .25% discount for having the loan payments automatically deducted from a Lakeland checking or statement savings account. The APR will increase if, at any time during the term of the loan, the automatic payment deduction is discontinued.
** APR (Annual Percentage Rate): The 2.99% initial APR is guaranteed for twelve months at the time of closing and is variable thereafter. The variable APR is equal to the Wall Street Journal Prime Rate. The Wall Street Journal Prime Rate is currently 3.25%. The minimum APR that can be imposed is 3.75%. The maximum APR that can be imposed is 18%. The current APR is 3.75%. Maximum credit line is $500,000.
*** Mortgage Recording Fee: For all Home Equity Loans and Lines of Credit (HELOC), a mortgage recording fee of $75 will be charged at time of closing. In addition, NY homeowners outside of the five boroughs will be charged a mortgage recording tax ranging from 1.02% to 1.05% of the loan/line amount. NY homeowners within one of the five boroughs will be charged a mortgage recording tax ranging from 1.77% to 1.80% of the loan/line amount.
All loans are subject to credit approval. Rates and terms are accurate as of 5/16/13 and are subject to change without notice.
Current Mortgage Rates for our Most Popular Products
|
Product
|
Interest Rate
|
Points
|
Annual
Percentage
Rate
|
Maximum
Loan
Amount
|
Principal & Interest Payment Amount***
(Payment Schedules are based on a loan amount of $100,000.00)
|
| 30 Year Fixed Monthly |
3.750% |
0 |
3.811%* |
$625,500.00 |
359 Monthly Payments of $463.12 and 1 Payment of $460.19 |
| 15 Year Fixed Monthly |
3.000% |
0 |
3.107%* |
$625,500.00 |
179 Monthly Payments of $690.58 and 1 Payment of $690.94 |
|
30 Year Fixed Bi-Weekly
|
3.875%
|
0
|
3.944%*
|
$625,500.00
|
674 Bi-Weekly Payments of $235.12 and 1 Payment of $162.53
|
|
15 / 30 Balloon
|
3.500%
|
0
|
3.575%*
|
$625,500.00
|
179 Monthly Payments of $449.04 and 1 Payment of $63,263.95
|
|
++5 / 1 ARM**
|
2.875%
|
0
|
2.850%
|
$625,500.00
|
60 Monthly Payments @ $414.89 then 299 Monthly Payments of $409.19 at a rate of 2.735%**** and 1 Payment at $411.16 (Payment amount adjusts annually after the 60th month)
|
|
Construction Loan - 12 Month
|
5.990%
|
0
|
9.349%
|
$1,000,000.00
|
11 Interest Only Monthly Payments of $499.17 and 1 final Payment of $100,499.17 at Maturity
|
The actual interest rate and fees available to you will be based on your credit history, product type, and loan to value and may be different than the rates displayed here.
*APR (Annual Percentage Rate): The APR shown for the 15 Year Fixed Monthly and the 30 Year Fixed Monthly are available to qualified applicants only and subject to credit approval. Offer valid for purchase or refinance of a single family owner-occupied residence in New Jersey (cash-out refinances, bi-weekly payments and investment properties may be subject to price adjustments). A minimum down-payment of 20% or equivalent equity is required. These loans will be sold and therefore are not eligible for the .25% auto payment discount. Other rates and options are available.
*The APR's shown for the 30 Year Biweekly, the 15/30 Balloon and the 5/1 Arm Loan include a .25% discount for having the loan payments automatically deducted from a Lakeland checking or statement savings account. The APR will increase if, at any time during the term of the loan, the automatic payment deduction is discontinued.
**Annual Percentage Rate may be increased after the initial fixed period.
++Adjustable Rate Mortgages are variable rates and may increase or decrease after consummation.
****Interest Rate disclosed at the current index rate and margin
***Payments do no include taxes and insurance and the actual payment may be greater. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes, flood insurance and homeowners insurance premiums if applicable.
Contact a Mortgage Consultant for additional interest rates on other products and loans for over $625,500.00
Interest Rates vary daily and are accurate as of 5/14/13 and subject to change without notice.
Private Mortgage Insurance is required on all loans with less than 20% down.
