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Mortgages

You’ve found the home of your dreams. We’ll help you figure out how to afford it.

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-rate 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. Then download our easy-to-complete Mortgage Application and return a signed copy to your nearest branch location. One of our Mortgage Advisors will be happy to answer any questions you might have.

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 Home Buyer Program

If you’ve never owned real estate before and are buying a 1-to-4 family 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 and either you or an immediate family member must have an established relationship with Kearny Bank.

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

Account Interest Rate APR Months Additional Information Monthly Payment per $1,000
15 Year Fixed Rate 3.250 3.352 180 APR based on a $300,000 loan amount. Purchase/Owner-Occupied, 75% LTV, minimum credit score 740. Other terms and conditions may apply. 7.03
20 Year Fixed Rate 3.625 3.709 240 APR based on a $300,000 loan amount. Purchase/Owner-Occupied, 75% LTV, minimum credit score 740. Other terms and conditions may apply. 5.86
30 Year Fixed Rate 3.750 3.811 360 APR based on a $300,000 loan amount. Purchase/Owner-Occupied, 75% LTV, minimum credit score 740. Other terms and conditions may apply. 4.63

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. Effective Annual Percentage Rate (APR) listed are as of 11/27/2019. Please call 800-273-3406 for rates on properties outside NJ.

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 terms.

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

Account Interest Rate APR Months Additional Information Monthly Payment per $1,000
5/1/30 Adjustable Rate 3.750 4.292 360 2.25% Margin – 2/2/5 Caps, $1,000,000.00 Max., 1-4 Family Owner-Occupied, 95% Max LTV, PMI Required with less than 20% down. Call for Jumbo Rates, 60 payments of $1,389.35, 299 @ $1,579.75, 1 final payment of $1,578.82. Example based on $300,000 loan amount at an interest rate of 3.750% for the initial 60 month period, and a fully indexed rate of 4.500% after the initial period. 4.63 (first 60 monthly payments)
7/1/30 Adjustable Rate 3.875 4.266 360 2.25% Margin – 5/2/5 Caps, $1,000,000.00 Max., 1-4 Family Owner-Occupied, 95% Max LTV, PMI Required with less than 20% down. Call for Jumbo Rates, 84 payments of $1,410.71, 275 @ $1,571.37, 1 final payment of $1,573.14. Example based on $300,000 loan amount at an interest rate of 3.875% for the initial 84 month period, and a fully indexed rate of 4.500% after the initial period. 4.70 (first 84 monthly payments)

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. Effective Annual Percentage Rate (APR) listed are as of 11/27/2019. Please call 800-273-3406 for rates on properties outside NJ.

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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.

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