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Mortgage Loans

We've got the mortgage money you need at a competitive rate, with terms to suit your budget.

Adjustable Rate Mortgages (ARMs)

Oritani's Adjustable Rate Mortgages (ARMs) can help to ease the financial burdens of a purchase of a new home or a refinance of your existing home with a low starting rate. After an introductory starting period of 1, 3, 5, 7, or 10 years; your interest rate will be tied to an Index plus a Margin and may move up or down with each subsequent adjustment period. You will have the benefit of Oritani's 2% periodic rate cap protection for each adjustment period, along with a lifetime rate cap of 6% on 1, 3, and 5 years and 5% on 7 and 10 years, respectively.

Conventional Fixed Rate Mortgages

Our 10 through 30-Year Fixed Rate Mortgages offer you the security and predictability of fixed monthly payment. Oritani's 10, 15 and 20-year fixed rate mortgages can save you thousands of dollars in interest payments over the life of the loan, with a rapid buildup of equity. Because the rate is fixed on all of these loans, you'll know the exact amount of your monthly amortization payment for the full term of the loan.

Low/Moderate Income Mortgage Loan Program

Our low/moderate income loan programs are targeted to families whose income is less than 80% of Metropolitan Statistical Area median family income. Mortgages for owner occupied purchases or a refinance are limited to $275,000 on one and two family homes/condominiums/townhomes located in Bergen County and towns within our designated lending area. This program offers a discount of ¼% of our current product rates.

First Time Homebuyers Loan Program

This program is targeted to prospective home purchasers who have not owned real estate in the last three years. The maximum income to apply for this mortgage is 115% of the Metropolitan Statistical Area, restricted to owner occupied single and two family homes, condominiums and townhomes. We will lend up to 90% of the sales price or appraised value; whichever is less, without private mortgage insurance.  With a maximum loan amount of $300,000.00
Please contact our Loan Representative for further details.


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