Commercial/Multifamily Mortgages                           Effective: 08/24/2010
Minimum Loan: $50,000
Maximum Commercial Loan: $6,000,000
Maximum Multifamily Loan: $6,000,000
Maximum LTVR: 75%
Application Fee: $590 plus 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: 6.250%
10 Year Fixed Rate:5.875%
10/1/25 Adjustable Rate: 6.250%
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:5.875%
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 and submit:

1. An Expression of Interest Form (includes an environmental checklist)
2. An income and expense statement and rent roll for the subject property
3. Click here for Expression of Interest Form
4. Complete and submit form on-line or
5. Complete, print and fax completed form to: (973) 473-3638

• There is no fee for an expression of interest filing.

No industrial properties.

Principals only. No brokers.