 
Welcome to Peapack-Gladstone Bank
Peapack-Gladstone Bank has been focused on providing personalized customer service to the New Jersey Banking community since 1921. We are committed to offering our customers the most convenient and innovative products and services to help them successfully navigate through the demands of life. Discover all of the conveniences Peapack-Gladstone Bank has to offer today.
Reverse Mortgages
If you are 62 years of age or older, Peapack-Gladstone Bank can help you convert the equity in your home into tax-free* monthly income. Unlike traditional equity loans and mortgages, no repayment is required until your home is sold or is no longer your principal residence.
• Retain ownership and live in your home.
• Use cash advances for any purpose.
• Loan proceeds are not considered 'income' and do not affect Social Security, Medicare or Medicaid benefits.
• Heirs keep your home once the reverse mortgage is repaid.
*Consult a tax advisor regarding the deductibility of interest.
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Current Mortgage Rates
| Program |
Rate |
Points |
APR |
Payment
Per $1,000 |
Max Loan(5) |
Lock Days |
Fees In
APR |
| Adjustable Rate Mortgages (1) |
| 3/1 ARM |
3.990% |
0 |
3.179% |
$4.77 |
$1,000,000 |
90 |
$623 |
| 5/1 ARM |
4.875% |
0 |
3.654% |
$5.29 |
$1,000,000 |
90 |
$623 |
| 7/1 ARM |
5.125% |
0 |
3.740% |
$5.44 |
$1,000,000 |
90 |
$623 |
| 10/1 ARM |
5.375% |
0 |
4.021% |
$5.60 |
$1,000,000 |
90 |
$623 |
| 3/1 LIBOR ARM Interest Only |
5.250% |
0 |
3.808% |
$4.38 |
$1,000,000 |
90 |
$623 |
| 5/1 LIBOR ARM Interest Only |
5.250% |
0 |
4.045% |
$4.38 |
$1,000,000 |
90 |
$623 |
| 7/1 LIBOR ARM Interest Only |
5.500% |
0 |
4.389% |
$4.58 |
$1,000,000 |
90 |
$623 |
| 10/1 LIBOR ARM Interest Only |
5.625% |
0 |
4.819% |
$4.69 |
$1,000,000 |
90 |
$623 |
| Fixed Rate Mortgages |
| 10 Year Fixed (2) |
4.625% |
0 |
4.799% |
$10.42 |
$1,000,000 |
90 |
$623 |
| 15 Year Fixed (3) |
4.500% |
0 |
4.619% |
$7.65 |
$417,000 |
40 |
$623 |
| 30 Year Fixed (3) |
5.000% |
0 |
5.103% |
$5.37 |
$417,000 |
40 |
$623 |
| 30 Year Fixed Jumbo (3) |
5.375% |
0 |
5.483% |
$5.60 |
$750,000 |
60 |
$623 |
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| 10/30 Year |
5.500% |
0 |
5.623% |
$5.68 |
$1,000,000 |
90 |
$623 |
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| Promotional Rate Mortgages |
| 5/1 ARM 20 Yrs Amortization |
4.250% |
0 |
3.616% |
6.19 |
$1,000,000 |
90 |
$623 |
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| Rates as of 11/06/09 and are subject to change. |
Rates quoted are the lowest rates for qualified applicants and are
subject to change without notice. Other rates and terms are available
and may apply based on our underwriting guidelines. Underwriting
guidelines include, but are not limited to, loan amount, credit
history, and the actual appraised value of the property. Mortgage
loans in excess of an 80% (LTV) require Private Mortgage Insurance
(PMI). Maximum LTV without mortgage insurance is 80% for loans up to
$800,000.00. Maximum LTV for loans over $800,000.00 is 65%.
- The Annual Percentage Rates (APRs) for the Adjustable Rate Mortgages
(ARMs) are based on a 30-year term with ARM caps: 2% per adjustment,
6% lifetime. Adjustable payments are based on a 30-year term. APR may
increase after closing. For LIBOR ARMs, payments are interest only
for the initial 10 year period.
- Bi-weekly payment option available.
- $500 refundable Rate Lock Fee applies.
- Affordable Mortgage Products - Please call for rate quotes and maximum
income limit per county.
- Please call for rate quotes for loan amounts over the maximum loan
amounts listed.
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| [The information on this page is updated directly by the lender using HSH's LiveEdit service. Please contact the lender with any questions or comments about the information posted here.] |
Want More Information From Peapack-Gladstone Bank?
158 Route 206 North
Gladstone, NJ 07934
Phone: (908) 234-0700
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