[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. Payments do not include amounts for taxes and insurance premiums, if applicable, and that the actual payment obligation will be greater. 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] Rates quoted are for owner-occupied and secondary residences located in New Jersey. Rates and APRs quoted are discounted by .25% with an automatic payment deduction (auto debit) set up from a Columbia Bank Personal Checking account. 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.
