Clifton Savings Bank

Commercial and Multifamily Mortgage Rates

Use Loan Calculator | Request Expression of Interest Form | Email Question or Comment

Commercial/Multifamily Mortgages Effective: 01/01/2010
Minimum Loan: $50,000
Maximum Commercial Loan: $6,000,000
Maximum Multifamily Loan: $6,000,000
Maximum LTVR: 75%
Application Fee: Based on appraisal cost; due at time of application
Points: 1/2% of loan amount; due at time of commitment
Attorney Review Fee: $250
Prepayment Penalty: Graduated during first 5 years; none after 5 years
15 Year Fixed Rate: 6.125%
10 Year Fixed Rate: 5.750%
10/1/25 Adjustable Rate: 6.125%
Adjustments and Caps: After 10 years, adjusted annually to 3.00% over 1-year Treasury bill; 2.50% cap per adjustment
5/5/25 Adjustable Rate: 5.750%
Adjustments and Caps: Adjusted every 5 years to 3.00% over 5-year Treasury bill; 2.50% cap per adjustment

Important Details

• Loans on commercial real estate and multi-family dwellings located in these New Jersey counties only: Bergen, Passaic, Essex, Hudson, Morris and Union.
• Purchase mortgages and refinance mortgages are eligible.
• Interested applicants must complete an Expression of Interest Form, an environmental checklist, and forward them to us, along with an income and expense statement and rent roll for the subject property. There is no fee for an expression of interest filing. Submit the following form on-line, or:

1. Print the following form.
2. Complete the form.
3. Fax the completed form to (973) 473-3638.

• Sorry, no industrial properties.
• Principals only. No brokers.