Already have your Dream Home...
We're here ready to serve you, whatever your personal need is, with
personal service and a superior home equity line of credit or fixed
rate 2nd Mortgage product:
Home Improvements . New Pool . Landscaping . Tuition . Wedding
Borrow the money you need as you need it with a fixed or variable-rate
Home Equity Line-of-Credit, or borrow the money you need all at once
with a fixed-rate Second Mortgage. Either way, you'll enjoy the savings
of a low rate and the freedom to use the money you borrow for any worthwhile
purpose.
All in all, the decision on which product to take out as a Home Equity
Loan Can be tricky. Your decision should be based on more factors than
interest rate or monthly payment. Speak to a friendly loan representavie
at the Credit Union at (732) 727-3500 ext. 220 for more information.
First Mortgages
First Mortgage options are available through our partnership
with the Huntington Mortgage Group.
Apply now for pre-approval. Feel empowered as you shop by letting sellers
know you're serious about buying. Give yourself the edge when competing
with another buyer.
Refinance your existing loan from another lender to Raritan Bay FCU
and you could save! Refinancing can help you get cash out of your home,
and reduce the amount of your monthly payment. But first, determine
if refinancing make sense for you. There are many factors to consider
before making this decision:
- Amortization. In the early years of your mortgage, you pay more
interest than principle. As the years go by, more of your payment
is applied towards principle and less towards interest. Does going
back to the beginning of a mortgage term make sense for you? Run the
numbers and see what you'll save monthly, but also calculate how little
the principle will decrease in the early years of a new loan.
- Closing costs. Based on what you'll save with the new mortgage,
how long will it take you to recoup the closing costs?
- Points. If you paid points for a lower rate on your current mortgage,
that money is lost when you refinance.
- How much longer are you planning to stay in the house? It's not
worth the cost of refinancing if you'll be selling shortly
For First Mortgage Rates, please call our
Mortgage Specialist at 732.727.3500 ext. 220.
