You’ve found the home of your dreams. We’ll help you figure out how to afford it.
As mortgage experts, Kearny Bank offers competitive rates on both fixed and adjustable-rate mortgages (ARMs), and we have systems in place to speed up your application process.
To see what your new mortgage monthly rate could be, try our helpful mortgage calculator.
The employees of Kearny Bank always went above and beyond to aid us in the mortgage process for our first home! Our mortgage representative truly cared about us as people and worked so diligently and thoroughly to get us where we are today. We have our home today because of the staff at Kearny Bank.
– Cristina B.
First-Time Homebuyer Program
If you’ve never owned real estate before and are buying a 1-2 units property as your primary residence, you may be eligible for added cost-savings. To qualify for these incentives, the property must be located in specific counties/municipalities.* Our First-Time Homebuyer Program offers savings and other significant benefits:
- Discounted Rate
- Down Payment options as low as 5%
- Minimum Credit Score Eligibility of 660
- Lender Paid Mortgage Insurance
*Must be primary residence located in specific counties/municipalities. Other requirements may apply.
Renovation Loan
Unlike traditional home equity loans and traditional cash-out refinances, renovation loans are based on what the value of your home will be after the renovation. This key factor dramatically increases how much can be borrowed, by allowing homeowners to tap into their future equity while also ensuring the lowest rate possible at Kearny Bank.
- Attractive rates
- Fast and quick alternative to traditional constructions loans
- Effective way to make home renovations
- Loan amount based on completed appraised value
Fixed Rate Mortgages
Our most popular type of loan, with a fixed rate mortgage from Kearny Bank, you get the security of a consistent interest rate (and payment) over the entire life of your loan. The overall interest you pay on a fixed rate mortgage is dependent on the overall length of the loan.
Fixed Rate Mortgage
Please call 800-273-3406 for rates on properties outside NJ.
| Account | Interest Rate | APR |
Points Paid |
Months | Monthly Payment per $1,000 | Additional Information |
|---|---|---|---|---|---|---|
| 15 Year Fixed Rate | 5.750% | 5.932% | 0 | 180 | $8.30 | APR based on a $300,000 loan amount. Purchase/Owner-Occupied, 75% LTV, minimum credit score 740. Maximum debt to income (DTI) 40%. Payments do not include amounts for taxes and insurance, if applicable. Actual payment obligation will be greater. |
| 20 Year Fixed Rate | 6.000% | 6.148% | 0 | 240 | $7.16 | APR based on a $300,000 loan amount. Purchase/Owner-Occupied, 75% LTV, minimum credit score 740. Maximum debt to income (DTI) 40%. Payments do not include amounts for taxes and insurance, if applicable. Actual payment obligation will be greater. |
| 30 Year Fixed Rate | 6.375% | 6.492% | 0 | 360 | $6.24 | APR based on a $300,000 loan amount. Purchase/Owner-Occupied, 75% LTV, minimum credit score 740. Maximum debt to income (DTI) 40%. Payments do not include amounts for taxes and insurance, if applicable. Actual payment obligation will be greater. |
Note: Quoted rates for owner-occupied single family primary residences and include a 60 day rate lock. All interest rates are for NJ properties only and are subject to change without notice. Payments do not include amounts for taxes and insurance, if applicable. Actual payment obligation will be greater. Subject to credit approval. Other terms and conditions may apply. Annual Percentage Rate (APR) listed are as of 03/24/2023. See Truth in Lending Disclosure below for additional information.
Adjustable Rate Mortgages (ARMs)
Often offering lower rates than a standard fixed rate loan, Kearny Bank offers adjustable rate mortgages with 1-, 3-, 5-, 7-, and 10-year adjustable rate period.
While an ARM may allow you to enjoy a lower rate and mortgage payment now, the interest rate will change over time. This creates a risk that rates may increase in the future, leading to higher mortgage payments down the road.
Adjustable Rate Mortgage
Please call 800-273-3406 for rates on properties outside NJ.
| Account | Interest Rate | APR | Points Paid | Months | Monthly Payment per $1,000 | Additional Information |
|---|---|---|---|---|---|---|
| 5/6/30 Adjustable Rate | 6.000% | 6.862% | 0 | 360 | $6.00 (first 60 monthly payments) | 2.75% Margin – 2/1/5 Caps, $647,000 Max., 1-4 Family Owner-Occupied, 95% Max LTV, PMI Required with less than 20% down. 60 payments of $1,798.65, 299 @ $2,017.81, 1 final payment of $2,018.28. Example based on $300,000 loan amount at an interest rate of 6.000% for the initial 60-month period, and a rate of 7.250% after the initial period. Payments do not include amounts for taxes and insurance, if applicable. Actual payment obligation will be greater. |
| 7/6/30 Adjustable Rate | 6.250% | 6.845% | 0 | 360 | $6.16 (first 84 monthly payments) | 2.75% Margin – 5/1/5 Caps, $647,000 Max., 1-4 Family Owner-Occupied, 95% Max LTV, PMI Required with less than 20% down. 84 payments of $1,847.15, 275 @ $2,013.82, 1 final payment of $2,010.36. Example based on $300,000 loan amount at an interest rate of 6.250% for the initial 84-month period, and a rate of 7.250% after the initial period. Payments do not include amounts for taxes and insurance, if applicable. Actual payment obligation will be greater. |
Note: The Annual Percentage Rate (APR) is variable and may increase after consummation. All interest rates are for NJ properties only and are subject to change without notice. Payments do not include amounts for taxes and insurance, if applicable. Actual payment obligation will be greater. Subject to credit approval. Annual Percentage Rate (APR) listed are as of 03/24/2023. See Truth in Lending Disclosure below for additional information.
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Truth In Lending Disclosure
- Rates are subject to change at any time without notice. Points are costs paid in lowering a loan's rate of interest and/or to pay any loan origination costs. 1 point is equal to 1% of the loan amount.
- A Fixed Rate Mortgage is a mortgage that may have a fixed principal and interest payment up to a maximum of 30 years or 360 payments. Monthly principal and interest payments do not include Real Estate Taxes, Homeowners/Flood Insurance or Private Mortgage Insurance (PMI) for down payments that are less than 20% of the purchase price.
- APR represents the "Annual Percentage Rate".
- An Adjustable Rate Mortgage (ARM) is a mortgage that starts at a rate of interest that is usually lower than a Fixed Rate Mortgage. This loan will re-price after an introductory period to a rate that takes into account a preselected index. The most commonly used index is the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one (1) year, as reported by The Federal Reserve Board. To this index, the borrower's pre-determined margin is added, then rounded to the nearest 1/8th of a percent, to arrive at the new mortgage loan interest rate for the next rate period based upon the terms of your promissory note. This is the most common type of adjustable rate mortgage offered. Monthly principal and interest payments do not include amounts for taxes and insurance, if applicable. Actual payment obligation will be greater.
- Payment shown is cost per $1,000 borrowed.