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Loan Rates

Calculators

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Effective Annual Percentage Rates (APR) listed are as of  9/5/2019 unless otherwise noted
All interest rates are subject to change without notice.

 

Fixed Rate First Mortgages*

Effective Date September 5, 2019

 *The displayed rates, annual percentage rates (APR) and terms apply to one to four family, owner-occupied purchases and refinances in amounts up to $2,000,000 throughout New Jersey.  Private mortgage insurance (PMI) is available for down payments less then 20%.  Rates and terms subject to change without notice. The above APR’s are based upon a $200,000 loan amount, the APR may vary.  Payments shown do not include taxes and insurance, actual payment obligation will be greater. Property insurance is required. Flood insurance may be required. All loans are subject to credit approval. Certain restrictions and conditions may apply.  

                 First Mortgages 1-4 Family Homes                                                Condominiums and Townhouses

Maximum Loan Amounts 

Maximum Loan to Value
Primary/Secondary Homes 

         Maximum Loan Amounts  Maximum Loan to Value
Owner Occupied 
Up to $400,000   95%*    Up to $500,000  75%
$400,001 to $650,000  95%*    $500,001 up to and including $750,000 65% 
$650,001 to $850,000  80%      
$850,001 to $1,000,000  75%      
$1,000,001 to $1,500,000  75%      
$1,500,001 to $2,000,000  70%      
   *With Private Mortgage Insurance (PMI)      

 

Adjustable Rate First Mortgages

Oritani offers competitive rates on all our Adjustable Rate First Mortgage Products.  For a complete list of products and current rate information please Call our Loan Representatives at 1-888-ORITANI or if you have any questions.

For purchase or refinance of investment property, please contact our Loan Representatives at 1-888-ORITANI (1-888-674-8264) or  for further details and rate information.

 

Home Equity Line of Credit

Effective Date September 20, 2019        
PROGRAM  DRAW PERIOD  INTEREST RATE  ANNUAL PERCENTAGE RATE (APR)  TERM 
 First Lien Home Equity Line  5 Year  5.00% (1)  5.00%  240 Months
 Second Lien Home Equity Line of Credit  5 Year  5.50% (2)  5.50%  240 Months

Credit lines are available on owner occupied one to four family residences up to and including $750,000. The minimum home equity credit line is $10,000.  The Annual Percentage Rate (APR) will be variable and is based on The Wall Street Journal “Prime Rate” (“Prime”), plus or minus a margin, published on the first business day of the month. Presently, the maximum Annual Percentage Rate that can apply is 14%. A $112.00 Tax Service Fee will apply to loan amounts up to $500,000. For loans greater than $500,000, an additional $10.00 fee will be added for every $100,000. Your monthly payment will be 1/240 of the unpaid balance plus interest or $100 plus interest, whichever is greater. Payments are currently based on a 20 year amortization. Property insurance is required. Flood insurance may be required. All rates, fees and terms are subject to change without notice. All loans are subject to credit approval. Certain restrictions and conditions may apply. 

(1) First lien interest rate is variable current Prime Rate, minimum rate is 5.00%

(2) Second lien interest rate is variable current Prime Rate plus .50%, minimum rate is 5.50%

 

 

 

Home Equity Loans

Effective Date September 5, 2019

PROGRAM 

TERM  1st  LIEN
INTEREST
RATE(1)

ANNUAL
PERCENTAGE RATE
(APR)
 

PAYMENT PER
$1000
 
2ND LIEN
INTEREST
RATE(1)
 
ANNUAL
PERCENTAGE RATE
(APR)
 
PAYMENT PER 
$1000
 
 5 Year Fixed  60  3.625%  3.771% $18.25  4.125% 4.289%   $18.47
10 Year Fixed  120  4.000%  4.083%  $10.12  4.500%  4.593%  $10.36
15 Year Fixed  180  4.375%  4.438%  $7.59  4.875%  4.945%  $7.84
20 Year Fixed  240  4.625%  4.677%  $6.39  5.125%  5.183%  $6.67
30 Year Fixed  360  4.875% 4.915%   $5.29 5.375%   5.420% $5.60
               

 (1) For loan payments with an automatic transfer from an Oritani Bank checking account, the interest rate will be discounted by 0.250% resulting in a lower Annual Percentage Rate. Rates and terms are for owner occupied one to four family, condominiums and townhomes located in NJ. Property insurance is required. Flood insurance may be required. Payments shown do not include taxes and insurance, if applicable, actual payment obligation will be greater. Rates and terms are subject to change without notice. All loans are subject to credit approval. Certain restrictions and conditions may apply.

Loan to Value Limitations for Home Equity Loan and Home Equity Line Programs:

- 75% of the appraised value up to combined mortgage balances of $500,000.00
- 65% of the appraised value will be used on loan amounts over $500,001.00 and up to a combined total of $750,000.00



 

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