[1] All loans are for New Jersey residents only. You will be required to pay a Mortgage Recording Fee at the time of closing. This fee can range from $50.00 to $60.00 depending upon the county in which the secured property is located. For any loan $400,000 or greater, the borrower will be required to pay an appraisal fee of $525 to $675, depending on the number of units. Higher fees may apply for complex or remote properties. Adequate property insurance is required for all real estate secured loans. If the property is located in a special flood hazard area (SFHA), flood insurance is required. For first lien home equity installment loans in an SFHA we will require that an escrow account be established for the flood insurance premium. Please contact Columbia Bank at (800) 522-4167 for further details and other program terms. All loans are subject to credit approval.
[2] Annual Percentage Rate (APR). 180 payments of $8.98 per each $1,000 borrowed. Monthly P&I payments per $1,000 borrowed taxes and insurance are not included. Rates quoted are for second lien position loans on owner-occupied and secondary residences located in New Jersey. Maximum loan to value of 75% on combined liens. Total combined liens cannot exceed $1,000,000. Maximum loan to value of 65% on Condominiums.