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TODAY’S LOAN RATES

Rates are current as of 10/18/17.

Residential Home Equity Commercial Multi-Family

Residential First Mortgage | Owner Occupied

Fixed Rate

TYPE	TERM	INTEREST RATE	APR*	PAYMENT PER $1,000
10 Year Fixed	10	3.000%	3.077%	$9.66
15 Year Fixed	15	3.125%	3.179%	$6.97
15 Year Fixed Bi-Weekly	15	3.125%	3.183%	$3.49
20 Year Fixed	20	3.500%	3.544%	$5.80
25 Year Fixed	25	3.625%	3.662%	$5.07
30 Year Fixed	30	3.875%	3.888%	$4.70
30 Year Fixed Bi-Weekly	30	3.875%	3.890%	$2.35

Residential First Mortgage | Investment Property

Fixed Rate

TYPE	TERM	INTEREST RATE	APR*	PAYMENT PER $1,000
10 Year Fixed	10	3.750%	3.834%	$10.01
15 Year Fixed	15	3.875%	3.934%	$7.33
20 Year Fixed	20	4.250%	4.299%	$6.19
25 Year Fixed	25	4.625%	4.668%	$5.63
30 Year Fixed	30	4.875%	4.914%	$5.29

Residential First Mortgage

ARM

TYPE	TERM	INTEREST RATE	APR*	PAYMENT PER $1,000
1/1/30 ARM	30	2.250%	4.002%	$3.82
3/1/30 ARM	30	2.750%	3.844%	$4.08
5/1/30 ARM	30	3.000%	3.757%	$4.22
5/5/30 ARM	30	3.375%	3.889%	$4.42
7/1/30 ARM	30	3.250%	3.746%	$4.35
10/1/30 ARM	30	3.500%	3.772%	$4.49

Home Equity Loan

Fixed Rate – First Lien

TYPE	TERM	INTEREST RATE	APR*	PAYMENT PER $1,000	ADDITIONAL INFO
5 Year Fixed	5	3.125%	3.125%	$18.02	$500K max.
7 Year Fixed	7	3.250%	3.250%	$13.33	$500K max.
10 Year Fixed	10	3.375%	3.375%	$9.83	$500K max.
15 Year Fixed	15	4.000%	4.000%	$7.40	$500K max.
20 Year Fixed	20	4.375%	4.375%	$6.26	$500K max.
25 Year Fixed	25	4.750%	4.750%	$5.70	$500K max.
30 Year Fixed	30	4.990%	4.990%	$5.36	$500K max.

Fixed Rate – Second Lien

TYPE	TERM	INTEREST RATE	APR*	PAYMENT PER $1,000	ADDITIONAL INFO
5 Year Fixed	5	3.375%	3.375%	$18.14	$500,000 max.
7 Year Fixed	7	3.500%	3.500%	$13.44	$500,000 max.
10 Year Fixed	10	3.625%	3.625%	$9.95	$500,000 max.
15 Year Fixed	15	4.250%	4.250%	$7.52	$500,000 max.
20 Year Fixed	20	4.625%	4.625%	$6.39	$500,000 max.
25 Year Fixed	25	5.000%	5.000%	$5.85	$500,000 max.
30 Year Fixed	30	5.240%	5.240%	$5.52	$500,000 max.

Home Improvement Loan

TYPE	MAX TERM	INTEREST RATE	APR*	PAYMENT PER $1,000	ADDITIONAL INFO
Fixed Rate	7	4.99%	4.99%	$14.13	Maximum Loan amount is $50,000; Max LTV is 95%; Residence must be owned and owner occupied for minimum of 3 years; no fees

Secured Loans

Fixed Rate

TYPE	TERM	INTEREST RATE	APR*	PAYMENT PER $1,000	ADDITIONAL INFO
Passbook Loan	0	0.000%	0.000%	$0.00	Interest rate will be 3% above passbook rate

Home Equity Line of Credit

Variable Rate

TYPE	TERM	INTEREST RATE	APR*	PAYMENT PER $1,000	ADDITIONAL INFO
Line of Credit	30	4.000%	4.00%	Varies	Rate will be 1.5% below Prime** for the life of the loan with a 4.00% floor. Requires minimum draw of $10K at funding. 15 year draw/repayment period, followed by 15 year repayment period.
Line of Credit	30	4.000%	4.00%	Varies	Rate will be 1.25% below Prime** for the life of the loan with a 4.00% floor. No minimum draw required at funding. 15 year draw/repayment period, followed by 15 year repayment period.
Line of Credit	20	3.50%	3.50%	Varies	Rate will be 0.75% below Prime** for the life of the loan. Floor is the "start rate". 20 year draw/repayment period. Balloon payment due at maturity. $99 non-refundable application fee, and a $50 annual renewal fee. Minimum of $25K. Maximum LTV 70%.
Line of Credit	20	4.000%	4.00%	Varies	Rate will be 0.25% below Prime** for the life of the loan with a 4.00% floor. 5 year interest only draw period, followed by a 15 year principal and interest repayment period.
Line of Credit	15	5.00%	5.00%	Varies	1-2 Family Investment Properties; 1^st Lien Only; Max LTV – 70% up to $300,000: Rate will be 0.50% below Prime** for the life of the loan with a 5.000% floor. Requires minimum draw of $10K at funding. 15 year draw/repayment period, followed by 15 year repayment period.

*APR= Annual Percentage Rate.

**Based on New York Prime Rate as published in the Wall Street Journal.

Commercial

Bogota Saving Bank has been a leader in providing real estate loans for over 120 years. As a community bank, we have local decision makers that live, work and know the local markets. Our lending professionals will provide you with the highest level of service in understanding and meeting your financing needs.

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 Commercial Loan Amount: $7,000,000
Maximum Loan to Value Ratio: 70%
Prepayment Penalty: First Five Years
Minimum Debt Service Coverage Ratio 1.25X
Personal Guarantees Required
Business checking account required
Rates can be fixed for the first 3, 5 or 7 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

Real Estate Secured Small Business Credit Lines

If you are looking for control and flexibility, consider using your commercial real estate, personal residence or investment property to obtain a line of credit for your small business.

You may call or email one of our lending professionals for additional information. The following items items will be required with your application.

$500 Non-refundable Processing Fee (applications will not be considered without the fee)
Signed copies of your three most recent years of personal and business FEDERAL INCOME TAX returns with all attached schedules (4506-Ts required)
Copy of actual income and expenses for subject property
Copy of all leases
Your most recent business financial statement (or within the past three months)
Asset Verification – account statements for the most recent three consecutive months
A fully-executed copy of the Purchase Sales Contract (if applicable)

Multi-Family

Bogota Saving Bank has been a leader in providing real estate loans for over 120 years. As a community bank, we have local decision makers that live, work and know the local markets. Our lending professionals will provide you with the highest level of service in understanding and meeting your financing needs.

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 30 years.
$500 Non-refundable Processing Fee

Real Estate Secured Small Business Credit Lines

If you are looking for control and flexibility, consider using your commercial real estate, personal residence or investment property to obtain a line of credit for your small business.

You may call or email one of our lending professionals for additional information. The following items items will be required with your application.

$500 Non-refundable Processing Fee (applications will not be considered without the fee)
Signed copies of your three most recent years of personal and business FEDERAL INCOME TAX returns with all attached schedules (4506-Ts required)
Copy of actual income and expenses for subject property
Copy of all leases
Your most recent business financial statement (or within the past three months)
Asset Verification – account statements for the most recent three consecutive months
A fully-executed copy of the Purchase Sales Contract (if applicable)

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