 
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
Effective 12/13/2012
| Adjustable-Rate Mortgages 1 |
| 3/1 ARM |
2.250% |
0 |
2.720% |
36 |
2.250% |
$573.37 |
$3.82 |
$750,000 |
90 |
| 323 |
2.750% |
$608.86 |
| 1 |
2.750% |
$607.68 |
| 5/1 ARM |
2.500% |
0 |
2.744% |
60 |
2.500% |
$592.68 |
$3.95 |
$417,000 |
90 |
| 299 |
2.750% |
$609.45 |
| 1 |
2.750% |
$609.45 |
| 5/1 ARM Jumbo |
2.750% |
0 |
2.831% |
60 |
2.750% |
$813.25 |
$4.08 |
$750,000 |
90 |
| 179 |
3.125% |
$834.81 |
| 1 |
3.125% |
$833.81 |
| 7/1 ARM |
2.750% |
0 |
2.831% |
84 |
2.750% |
$612.36 |
$4.08 |
$417,000 |
90 |
| 275 |
2.750% |
$612.36 |
| 1 |
2.750% |
$612.36 |
| 7/1 ARM JUMBO |
3.000% |
0 |
2.947% |
84 |
3.000% |
$632.41 |
$4.22 |
$750,000 |
90 |
| 275 |
2.750% |
$616.39 |
| 1 |
2.750% |
$615.85 |
| 10/1 LIBOR ARM* |
3.375% |
0 |
3.365% |
120 |
3.375% |
$663.14 |
$4.42 |
$417,000 |
45 |
| 239 |
3.125% |
$648.49 |
| 1 |
3.125% |
$647.04 |
| 5/1 LIBOR ARM Interest Only* |
n/a |
0 |
n/a |
60 |
n/a |
n/a |
n/a |
n/a |
n/a |
| 60 |
n/a |
n/a |
| 239 |
n/a |
n/a |
| 1 |
n/a |
n/a |
| 7/1 LIBOR ARM Interest Only* |
3.250% |
0 |
3.249% |
84 |
3.250% |
$406.25 |
$2.71 |
$417,000 |
45 |
| 36 |
3.125% |
$390.63 |
| 239 |
3.125% |
$841.31 |
| 1 |
3.125% |
$841.31 |
| 10/1 LIBOR ARM Interest Only* |
n/a |
0 |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| 120 |
n/a |
n/a |
| 239 |
n/a |
n/a |
| 1 |
n/a |
n/a |
| n/a |
n/a |
0 |
n/a |
|
n/a |
n/a |
n/a |
n/a |
n/a |
|
n/a |
n/a |
|
n/a |
n/a |
| Fixed-Rate Mortgages |
| 10 Year Fixed** |
2.625% |
0 |
2.840% |
120 |
2.625% |
$1,422.59 |
$9.48 |
$417,000 |
90 |
| 15 Year Fixed* |
2.750% |
0 |
2.899% |
180 |
2.750% |
$1,017.93 |
$6.79 |
$417,000 |
45 |
| 15 Year Fixed Jumbo** |
3.125% |
0 |
3.428% |
180 |
3.125% |
$1,044.91 |
$6.97 |
$750,000 |
90 |
| 20 Year Fixed* |
3.250% |
0 |
3.359% |
240 |
3.250% |
$850.79 |
$5.67 |
$417,000 |
45 |
| 30 Year Fixed-Conforming* |
3.500% |
0 |
3.617% |
360 |
3.500% |
$673.57 |
$4.49 |
$417,000 |
45 |
| 30 Year Fixed-Jumbo* |
3.625% |
0 |
3.743% |
360 |
3.625% |
$684.08 |
$4.56 |
$625,500 |
45 |
| Low and Moderate Income Programs 3 |
| 30 Year Fixed |
3.250% |
0 |
3.327% |
360 |
3.250% |
$652.81 |
$4.35 |
N/A |
90 |
Payments do not include amounts for taxes and insurance. Actual payment obligation will be greater.
| 1 year Treasury Index |
0.18% |
| 1 year LIBOR Index |
0.85% |
Rates quoted are the lowest rates for qualified applicants,are subject
to change without notice and are subject to credit approval. 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 $750,000.00. Maximum LTV for loans over
$750,000.00 is 65%. Payment schedules are based on a loan amount of
$150,000.
1 The APR for the 10/1 Adjustable Rate Mortgages (ARMs) and
5/1, 7/1 & 10/1 Interest Only ARMs are based on a 30-year term with
ARM caps: 5% max 1st adjustment, 2% per subsequent adjustment & 5%
lifetime. (APR for 3/1, 5/1, 7/1 ARMS & 3/1 Libor Interest Only ARM
is 2% per adjustment & 6% lifetime) After the initial period, rates
and payments are based on the current index plus a margin. APR may
increase after closing.
2 Please call for rate quotes for loan amounts over the
maximum loan amounts listed.
3 Please call for rate quotes and maximum income limit per
county.
* $500 Refundable rate lock fee applies.
** Bi-weekly payment option available.
BANK FEES
| Application |
| Appraisal |
| Appraisal Management Co. Review |
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| Flood Certification and Life of Loan |
| Document Preparation |
| Attorney Review |
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| Credit Report - Joint |
| Credit Report - Individual |
| Tax Service |
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For more information call Customer Relations at (908) 234-0700.
| [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?
Peapack-Gladstone Bank
PO Box 700
Bedminster, NJ 07921
Phone: (908) 234-0700
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