New Jersey Special Mortgage Programs - Hudson City Savings Bank


Adjustable Rate Mortgages Fixed Rate Mortgages First Time Homebuyers Low / Moderate Income Mortgages Mortgage Centers Mortgage Application

Hudson City Savings Bank has a long standing concern for the people in the communities it serves, including those with low to moderate income or those who are buying a home for the first time. We offer loans designed with these individuals in mind.

Hudson City has made mortgage loans even more affordable with a 40 year term now available. Check out the chart below for the latest rates.

First Time Homebuyer Program

Maximum Permissible Income Levels For First Time Homebuyers Program
by County
Atlantic	$64,400	Middlesex	$87,500
Bergen	$59,200	Monmouth	$87,500
Burlington	$77,300	Morris	$85,400
Camden	$77,300	Ocean	$87,500
Essex	$85,400	Passaic	$59,200
Gloucester	$77,300	Somerset	$87,500
Hudson	$59,200	Union	$85,400
Mercer	$85,400	Warren	$65,900

Rate, APR's and terms are identical to our Standard Product Offerings with Application Fees refunded at closing under our First Time Homebuyers Program.

Low / Moderate Income Mortgage Program

Benefits:

Save thousands of dollars because of reduced fees and lower rates
Receive consideration under preferred underwriting criteria

Maximum Permissible Income Levels For Low/Moderate Program
by County
Atlantic	$51,520	Middlesex	$70,000
Bergen	$47,360	Monmouth	$70,000
Burlington	$61,840	Morris	$68,320
Camden	$61,840	Ocean	$70,000
Essex	$68,320	Passaic	$47,360
Gloucester	$61,840	Somerset	$70,000
Hudson	$47,360	Union	$68,320
Mercer	$68,320	Warren	$52,720

Currently effective Annual Percentage Rate (APR) as of 8/01/2006
All interest rates are subject to change without notice Property must be located within the eligible counties shown above Maximum mortgage amount $250,000 However, for loan amounts greater than $250,000 in a defined Low / Moderate census tract, add 0.125% to the rates listed below. Other 5 and 10 Year ARM Programs with lower rates and higher fees are available upon request.
Loan Type	Interest Rate	APR	Term (Months)	Additional Information	Monthly Payment per $1,000
5 Year ARM	5.500	6.981	360	0% Mortgage Commitment Fee, 1% fee refundable at closing*	$5.68
5 Year ARM	5.750	7.198	480	0% Mortgage Commitment Fee, 1% fee refundable at closing*	$5.33
10 Year ARM	5.875	6.609	360	0% Mortgage Commitment Fee, 1% fee refundable at closing*	$5.92
10 Year ARM	6.125	6.906	480	0% Mortgage Commitment Fee, 1% fee refundable at closing*	$5.59
30 Year Fixed	6.375	6.395	360	0% Mortgage Commitment Fee, 1% fee refundable at closing*	$6.24
40 Year Fixed	6.625	6.642	480	0% Mortgage Commitment Fee, 1% fee refundable at closing*	$5.94
* Please note on loans shown above with 0.00% fees, a 1% fee is actually due at time of Commitment acceptance which will be refunded when and if the loan closes. Should the loan not close, the fee will not be refunded.

Do you know how much you can afford? Try our mortgage calculator.

WE'RE HERE TO HELP!

If you are interested in a Hudson City mortgage, would like to email us or come in to speak with one of our mortgage representatives, click here. You can also visit one of our branches or call:

New Jersey Mortgage Centers:

Main Processing Center (Paramus) 201-967-1900
Cherry Hill 856-428-2740
Lakewood 732-367-4956

New York Mortgage Centers:

Staten Island 718-720-5767
Long Island 631-727-9630
All Other New York Locations 1-800-222-0194

Connecticut Mortgage Center:

Cos Cob 1-800-222-0194

If you have decided to apply or just want to get a head start, you can click here to print a complete mortgage application package.