Loan Assumptions and Disclosures

Certain conditions and restrictions may apply. Borrowers and properties must qualify under FNMA and Bank guidelines. Maximum DTI (debt to income) is 43% for portfolio products. Mortgage Insurance (MI) is required for properties with loan-to-values (LTV) over 80%. Estimated cost per $1000 does not include taxes, insurance, and mortgage insurance premiums. Please see a loan representative for details. Mortgage loan rates are for owner-occupied 1-4 family properties. There will be an increase in rate for cash-out refinances over 70% LTV and investment properties. Rates are subject to change without notice.
 

5/5/30 ARM Details

The following payments are based on a $200,000 loan amount with an initial interest rate of 3.000% (APR 3.887%) for 60 months and no points.

Number of Payments Estimated Interest Rate Estimated Monthly Payments
60 3.000% 843.21
299 4.375% 975.77
1 4.375% 974.01


Rate Adjustment Details

Current Index Rate: 1.920
Margin: 2.500
Rate Adjustment Frequency: 60 months
First Adjusted Interest Rate Cap: 2.000%
Subsequent Adjusted Interest Rate Cap: 2.000%
Lifetime Rate Cap: 6.000%

After the initial fixed rate period and based on the initial interest rate and interest rate caps disclosed above, the maximum first adjusted rate for this loan will never be more than 5.000%, with a maximum payment of $1,039.00 (principal and interest only). The maximum lifetime rate will never be more than 9.000% with an estimated monthly payment of $1,378.00 (principal & interest).

7/1/30 ARM Details

The following payments are based on a $200,000 loan amount with an initial interest rate of 3.250% (APR 3.318%) for 84 months and no points.

Number of Payments Estimated Interest Rate Estimated Monthly Payments
84 3.250% 870.41
275 3.375% 881.44
1 3.375% 881.01
 

Rate Adjustment Details

Current Index Rate:                      0.860
Margin:       2.500
Rate Adjustment Frequency:         12 months
First Adjusted Interest Rate Cap:     2.000%
Subsequent Adjusted Interest Rate Cap: 2.000%
Lifetime Rate Cap:    6.000%
 

After the initial fixed rate period and based on the initial interest rate and interest rate caps disclosed above, the maximum first adjusted rate for this loan will never be more than 5.250%, with a maximum payment of $1056.00 (principal and interest only).  The maximum lifetime rate will never be more than 9.250% with an estimated monthly payment of $1,459.00 (principal & interest).

Homeowner’s Insurance

You will be required to purchase and maintain insurance on the Property as a condition of RSI Bank making this Mortgage Loan.  New Jersey law (NJ Admin. Code 3:1-13.1) requires that you be informed that you may purchase any insurance related to the extension of credit from a source of your own choosing.  RSI Bank can refuse to accept your choice of insurer or insurance, for reasonable cause, but will give you written notice stating why insurance coverage provided by you would be unacceptable.

10/2/30 ARM Details

The following payments are based on a $200,000 loan amount with an initial interest rate of 3.625% (APR 3.675%) for 120 months and no points.
 

Number of Payments Estimated Interest rate Estimated Monthly Payments
120 3.625% 912.10
239 3.750% 922.19
1 3.750% 922.91

Rate Adjustment Details

Current Index Rate:      1.210
Margin: 2.500
Rate Adjustment Frequency:        24 months
First Adjusted Interest Rate Cap:    2.000%
Subsequent Adjusted Interest Rate Cap: 2.000%
Lifetime Rate Cap:          6.000%
 

After the initial fixed rate period and based on the initial interest rate and interest rate caps disclosed above, the maximum first adjusted rate for this loan will never be more than 5.625%, with a maximum payment of $1,081.00 (principal and interest only).  The maximum lifetime rate will never be more than 9.625% with an estimated monthly payment of $1,415.00 (principal & interest).

First Time Homebuyer 10/2 Program

Special program. Some restrictions apply. Call 732.388.1800 to speak with a loan representative for further details.

20 Year Bi-weekly

Special program. Some restrictions apply. Call 732.388.1800 to speak with a loan representative for further details.