Rates quoted are the lowest available rates
for qualified applicants.
Other rates are available and may apply based
on our current underwriting guidelines.
Rates effective:05/09/2008
Rates are in
effect until 10:00 am on: 05/12/2008
Standard
(Conventional) Mortgage
5%
Downpayment Required except on 2 Family (10%), 3-4 Family (20%)
40 year fixed
rate
30 year fixed rate
20 year fixed rate
15 year fixed rate
10 year fixed rate
Points
Rate
APR
Points
Rate
APR
Points
Rate
APR
Points
Rate
APR
Points
Rate
APR
0
6.250
6.291
0
6.000
6.046
0
5.875
5.935
0
5.500
5.571
0
5.375
5.473
1
6.125
6.165
1
5.875
5.920
1
5.750
5.809
1
5.375
5.444
1
5.250
5.346
2
5.875
5.913
2
5.625
5.673
2
5.500
5.556
2
5.125
5.190
2
5.000
5.091
3
5.625
5.660
3
5.375
5.415
3
5.250
5.303
3
4.875
4.936
3
4.750
4.836
JUMBO
Mortgage
Single Family
Loans Over $417,000.00 (10%-20% Down Required)
40 year fixed
rate
30 year fixed rate
20 year fixed rate
15 year fixed rate
10 year fixed rate
Points
Rate
APR
Points
Rate
APR
Points
Rate
APR
Points
Rate
APR
Points
Rate
APR
0
6.750
6.796
0
6.500
6.551
0
6.375
6.442
0
6.000
6.078
0
5.875
5.983
1
6.625
6.669
1
6.375
6.425
1
6.250
6.315
1
5.875
5.951
1
5.750
5.856
2
6.375
6.418
2
6.125
6.178
2
6.000
6.062
2
5.625
5.697
2
5.500
5.601
Adjustable
Rate Mortgages**
(Requires a
10% Down Payment)
1/1 Year
3/1 Year
5/1 Year
Points
Rate
APR
Points
Rate
APR
Points
Rate
APR
0
3.250
3.271
0
4.500
4.532
0
5.000
5.036
1
3.125
3.145
1
4.375
4.406
1
4.875
4.910
2
2.875
2.897
2
4.125
4.157
2
4.625
4.662
3
2.625
2.627
3
3.875
3.901
3
4.375
4.406
**The rate
may be increased after consummation
Private mortgage insurance is required on mortgage loans
without a 20% down payment or 80% LTV.
Mortgage Lending through NJ Gateway Federal Credit Union is
for the following types of Property: 1-4 Family primary residences
(Including approved Condo's and Town homes) NO
CO-OP'S
Lock-Ins
All lock-in requests MUST be received no later than
10:00am. Any request received after 10:00 am is subject to the following
business days interest rate. Requests must be made on the official lock-in
request form.
There is a 1% fee for all lock-ins. The fee is fully
refundable at closing only if closed within 60 days of lock-in.
The lock-in fee must be received within 5 days, otherwise the
request will be considered void and you will lose the option to lock-in at
a further date. If the lock-in is canceled, you will lose the fee, rate
and cannot "re-lock."
Please contact us at 1-888-385-5782 with any questions.
We do business in accordance with the Federal Housing Law and the Equal Credit
Opportunity Act
