Multi-Family Rates

Financial Highlights

Below are some of the highlights of our financing terms. This list is not all inclusive. Please call us for other terms.

*Rates, terms and conditions are also subject to change at any time without prior notice.

Maximum Multi-family Loan Amount: $7,000,000
Maximum Loan to Value Ratio: 75%
Prepayment Penalty: First Five Years
Minimum Debt Service Coverage Ratio 1.20X
Personal Guarantees Required
Checking Account and all rent security accounts required.
Rates can be fixed for the first 3, 5, 7 or 10 years.
Adjusts every five years thereafter to the NY Federal Home Loan Bank five year advance rate plus 2.50% with a floor of the initial rate. Maximum
Amortization/Maturity 25 years.
$500 Non-refundable Processing Fee

For more information and for a home loan application, visit your local branch or call (201) 862-8260 Ext. 1124.