When it comes to your mortgage, bank with people who know the local market - folks like us who live and work right here where you do. We want to be a good neighbor and an even better lender.
Fixed Rate Conventional
A fixed rate mortgage is a fully amortizing mortgage loan where the interest rate on the note remains the same throughout the term of the loan. Various loan terms are available.
Adjustable Rate
An adjustable rate mortgage is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. Usually the initial interest rate is fixed for a period of time followed by periodic resets based on a pre-determined index plus an additional spread (margin). For example-a 3 year Arm adjusts every three years for three years, a 5/1 Arm is fixed for the first 5 years but adjusts annually thereafter. The beginning number indicates the amount of years the interest rate will remain fixed. The second number, if present, indicates how often the interest rate may change after the initial fixed period. Various loan terms are available.
Construction & Construction Permanent
With a straightforward financing solution in place, you can spend more time deciding on paint colors and fixtures as plans for your dream home come together. Combine your construction and permanent loan into just one closing - saving you time and stress.
- Rate locked for one year
- Easy application process
- Prompt and local decision making
- One closing
- Seller may contribute 6% towards closing costs
- 1st draw up to 75% of land value
NeighborFirst
At OceanFirst Bank, helping you reach your goals is our top priority. That’s why we offer the NeighborFirst* Program, designed to help homebuyers purchase a home. Plus, qualified first-time home buyers may be eligible to receive $2,000 grant towards closing costs.
Request an appointment or contact a residential lender officer today at 888-623-2633 x27245 to learn more.
Revised 3/28/2022 *Offer of credit is subject to income restrictions and credit approval. Eligible properties include 1- to 4-unit properties (down payment may increase with 2+ units), Fannie Mae/Freddie Mac-eligible condominiums, and planned unit developments (PUDs). Minimum of 3% down payment for purchase of a primary residence. Rate/Term refinances up to 90% loan-to-value on primary residences; no PMI required. The “no income limit” applies to certain low/moderate income areas, designated by government census tracts. Eligible applicants must complete an approved home ownership course.
Special Purpose
An affordable homebuyer credit program that can help Middlesex County* residents realize the dream of owning a home.
Enjoy These Great Benefits!
- Significant Savings with Low Down Payments
- No Private Mortgage Insurance (PMI) Required
- No Additional Fees Based on Credit Scores
- No Income Limit in Certain Geographic Areas
- Interest Rate Discounted of 1% (Program Interest Rate Floor of 4%)
- Plus, qualified First-Time Homebuyers in Middlesex County may be eligible for a $4,000 grant toward closing costs
Request an appointment or contact a Residential Loan Officer at 888-623-2633 x27215 to learn more.
*Offer of credit is subject to income restrictions and credit approval. Program available for properties in majority/minority census tracts. Eligible properties include 1- to 4-unit properties (down payment may increase with 2+ units), Fannie Mae/Freddie Mac-eligible condominiums, and planned unit developments (PUDs). Minimum of 3% down payment for purchase of a primary residence. No PMI required. The “no income limit” applies to certain low/moderate income areas, designated by government census tracts. Eligible applicants must complete an approved home ownership course.
The Interest Rates, Annual Percentage Rate (APR), and fees displayed may be adjusted based on several factors including, but not limited to, property location, loan amount, loan type, occupancy, property type, loan to value, debt to income ratios, FICO credit scores, and asset reserves.