Peapack Private Mortgage Rates
Effective 2.15.24
Contact us to learn more about our complete suite of residential lending solutions or to ask about rates.
Affordable Housing Loan Programs1
| Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan1 |
Rate Lock Days |
|---|---|---|---|---|---|---|---|---|---|
| 30 Year Fixed-Affordable Housing | 6.500% | 0 | 6.671% | 360 | 6.500% | $1,896.20 | $6.32 | $500,000 | 60 |
| 30 Year Fixed-Affordable Housing*** | 6.750% | 0 | 6.926% | 360 | 6.750% | $1,945.79 | $6.49 | $500,000 | 60 |
Rates quoted are the lowest rates for qualified applicants, are subject to change without notice and are subject to credit approval. Other rates and terms are available and may apply based on our underwriting guidelines. Underwriting guidelines include, but are not limited to, loan amount, credit history and the actual appraised value of the property. Mortgage loans in excess of an 80% Loan-to-Value (LTV) require Private Mortgage Insurance (PMI). Payment schedules are based on a loan amount of $300,000.
1Please call for rate quotes and maximum income limit per county.
***30 Year Fixed Rate -Affordable Housing product will be offered at 8.250% with a $2,500.00 closing cost credit
***30 Year Fixed Rate -Affordable Housing product will be offered at 8.250% with a $2,500.00 closing cost credit
BANK FEES
| Application | $500.00 | Flood Certification and Life of Loan | $15.00 | Credit Report - Joint | $94.00 |
| Appraisal | $525 to $1,500 | Attorney Review | $250.00 | Credit Report - Individual | $47.00 |
| Tax Service | $116.00 |