First Mortgages & Refinance
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First Mortgage Rules
- 1 to 4 family dwellings
- 20% minimum down payment
- Minimum loan amount $25,000.00
- Conventional loan amounts limited to $510,400.00; Jumbo loans (amounts over $510,400.00), add .250%
Considered by Case
- Residential investment properties (subject to different rate schedule)
First Mortgage Modification
Loan Amount Modification Fees
- Above $150,000.00: $1,100.00
- $50,001.00 to $150,000.00: $800.00
- $50,000.00 and under: $500.00
First Mortgage Fees And Charges
- Application fee: $450.00 SFH/$650.00 Duplex
- Processing fee: $225.00
- Interest due from disbursement to end of the month
- Final inspection fee: $75.00 to $150.00 (new construction only)
Borrower(s) Responsible To Provide:
- Homeowner's Insurance Policy: $500.00 to $1,100.00
- Survey of property: $250.00 to $350.00
- Title Insurance (includes title company closing and recording fees):
- Average Cost Purchase $2,200.00
- Average Cost Refinance $1,350.00
- Rates may change at any time
All loans subject to credit approval.
Please print out, read and complete each form carefully and sign where necessary.
PLEASE NOTE: A non-refundable application fee is due upon your receipt of our letter, which includes disclosure information on your loan. ($450.00 Single Family or $650.00 Duplex.) Along with the application fee, please submit the following:
- Signed Sales Agreement (for purchase transactions).
- Homeowners Insurance Policy Declaration Pages (For refinance transactions).
- Evidence of Flood Insurance (For properties located in a flood hazard zone).
- TWO MOST RECENT W-2(s), Earnings statement(s) and/or Tax Return(s).
- Self-Employed Borrowers THREE MOST RECENT Business and Personal Tax Returns.
- TWO MOST RECENT Pay Stub(s)/statement(s)
- Self-Employed Borrowers MOST RECENT Financial Statement(s)
- MOST RECENT Property Tax Bill or Statement
PLEASE NOTE: You will need to have Adobe Acrobat Reader to print out the above documents. If you do not have it installed, you may download it free https://get.adobe.com/reader/.
Our primary lending area is South Jersey . Loans outside this lending area will be considered on a case-by-case basis. All settlements are held at the main office of the bank, 201 White Horse Pike, Haddon Heights, NJ.