New Jersey Adjustable Rate Mortgages - Hudson City Savings Bank


Adjustable Rate Mortgages Fixed Rate Mortgages First Time Homebuyers Low / Moderate Income Mortgages Mortgage Centers Mortgage Application

Adjustable Rate Mortgage (ARM) interest rates, unlike fixed rates, can increase or decrease over the term of the loan. In general, the initial interest rates and monthly payments are below those of fixed rate offerings.

Benefits:

Can help to qualify you for the purchase of a more expensive home
Can save you money over the standard 30 or 40 year fixed rate mortgage

How it works:

Tied to an economic indicator beyond the lender's control
Rates at time of adjustment set in accordance with the movements of that indicator
Annual interest rate caps as well as a maximum lifetime cap
(caps limit the amount of increase or decrease during each adjustment period and over the life of the loan)

New - Interest Only Adjustable Rate Mortgage Loans

Benefits:

Interest only payments for either the first 5 or 10 years of the mortgage
Allows lower initial monthly payments and increased affordability
Please call for further details

Do you know how much you can afford? Our mortgage calculator is designed to give you an estimate of the mortgage loan amount that fits your budget.

Currently effective Annual Percentage Rate (APR) as of 8/01/2006
All interest rates are subject to change without notice. Property must be located within the state of New Jersey. Other 30 and 40 Year ARM Programs with lower rates and higher fees are available upon request.
Loan Type	Interest Rate	APR	Term (Months)	Additional Information	Monthly Payment per $1,000
3 Year ARM	5.875	7.436	360	0% Mortgage Commitment Fee, loans to $1 million, 1% fee refundable at closing*	$5.92
3 Year ARM	6.125	7.568	480	0% Mortgage Commitment Fee, loans to $1 million, 1% fee refundable at closing*	$5.59
5 Year ARM	6.000	7.199	360	0% Mortgage Commitment Fee, loans to $1 million, 1% fee refundable at closing*	$6.00
5 Year ARM	6.250	7.379	480	0% Mortgage Commitment Fee, loans to $1 million, 1% fee refundable at closing*	$5.68
5 Year ARM Interest Only	6.250	7.313	360	0% Mortgage Commitment Fee, loans to $1 million, 1% fee refundable at closing*	$5.21
7 Year ARM	6.125	7.030	360	0% Mortgage Commitment Fee, loans to $1 million, 1% fee refundable at closing*	$6.08
10 Year ARM	6.375	6.928	360	0% Mortgage Commitment Fee, loans to $1 million, 1% fee refundable at closing*	$6.24
10 Year ARM	6.625	7.186	480	0% Mortgage Commitment Fee, loans to $1 million, 1% fee refundable at closing*	$5.94
10 Year ARM Interest Only	6.625	7.120	360	0% Mortgage Commitment Fee, loans to $1 million, 1% fee refundable at closing*	$5.52
* Please note on loans shown above with 0.00% fees, a 1% fee is actually due at time of commitment acceptance which will be refunded when and if the loan closes. Should the loan not close, the fee will not be refunded.

Interest rates are locked in at time of receipt of an application and will hold through the processing of the loan application plus an additional 90 day commitment period. All interest rates quoted are based on a 90 day commitment.

WE'RE HERE TO HELP!

If you are interested in a Hudson City mortgage, would like to email us or come in to speak with one of our mortgage representatives, click here. You can also visit one of our branches or call:

New Jersey Mortgage Centers:

Main Processing Center (Paramus) 201-967-1900
Cherry Hill 856-428-2740
Lakewood 732-367-4956

New York Mortgage Centers:

Staten Island 718-720-5767
Long Island 631-727-9630
All Other New York Locations 1-800-222-0194

Connecticut Mortgage Center:

Cos Cob 1-800-222-0194

If you have decided to apply or just want to get a head start, you can click here to print a complete mortgage application package.