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Hudson City Savings Bank

More than 140 years ago in what was then a small town called Hudson City located across the Hudson River from New York City, Hudson City Savings Bank was chartered. The community, now known as Jersey City, has grown dramatically since the bank was founded in 1868, and so has the bank itself.

Hudson City, the largest savings bank headquartered in New Jersey, now has 130 branches in the area surrounding New York City as well as the New Jersey suburbs of Philadelphia. The bank, now headquartered in Paramus, N.J., had over $40 billion in assets as of September 30, 2012.

Hudson City has been listed on the S&P 500 since early 2007. Since then, the bank was named to the Forbes Platinum 400 list of "America's Best Big Companies" and Forbes selected Hudson City among the Best-Managed Banks in America.

The Better Business Bureau gives Hudson City Savings Bank an A- rating.

Mortgage products

Hudson City offers mortgages to customers in New Jersey, New York, Connecticut, Pennsylvania and Massachusetts. Borrowers can choose between adjustable rate mortgages (ARMs) with fixed-rates for three, five, seven or 10 years, including interest-only mortgages for the seven or 10 years. Fixed-rate home loans are available for 10, 15, 20 and 30-year terms.

In addition, this bank offers special mortgage programs for low and moderate-income borrowers.

Home equity loans and home equity lines of credit are also available. These loans are only available to residents in New Jersey, New York, Pennsylvania and Connecticut. The maximum income level to qualify varies by county and is listed on the bank's website.

Hudson City offers free rate locks at the time of your mortgage application which help your loan will close on time and at the interest rate quoted at the time of application.

Conservative lending standards

In 2007, Hudson City was rated among the top-three lenders nationwide for conservative mortgage underwriting standards in "The Mortgage Credit Crisis," a study of the nation's largest 163 mortgage lenders conducted by SMR Research Corporation.

Deposit accounts

Customers of Hudson City Saving Bank can also choose between savings accounts, checking accounts, certificates of deposit (CDs) and retirement accounts for their deposits. All deposits are fully FDIC-insured up to the maximum limit of $250,000 per depositor.