Construction Mortgage Loans

Construction Mortgage Loans

Clifton Savings Bank will make short-term construction mortgage loans secured by one to four family residences to be constructed in the counties of Bergen, Passaic, Essex, Morris, Hudson or Union in NEW JERSEY. Interested applicants should call the mortgage department at
973-473-2200, or e-mail to loans@cliftonsavings.com.

Effective 07/16/2008

Minimum Loan: $25,000

Maximum Loan: $1,000,000

Maximum Term: 12 Months

Maximum LTVR: 70%

Loan Type: Interest only; adjusted monthly; no caps

Application Fee: $525 (1F), $725 (2-4F); due at time of application

Points: 1% of loan amount; due at time of commitment

Attorney Review Fee: $235; due at time of closing

Inspection Fee: $125 per advance

Interest Rate: 6.000% (Prime Rate plus 1.00%)

Try out our calculators.

Home | Personal Banking | Business Banking | Mortgages | Locations

Investor Relations | Privacy Policy | About Us

Please read our Privacy Policy to learn how Clifton Savings protects your personal information.