PGB Mortgage offers a full range of financing plans to buy a home, refinance it and utilize equity to make other purchases, like a new car or a college education. We offer a full line of mortgage loan products that make home ownership easy.
Due to our knowledge of the local real estate market and business climate, we are not limited to traditional criteria for determining mortgage eligibility. As a local community bank with a personalized approach, we move quickly to get you the answers you need.
Get an adjustable-rate mortgage and enjoy a lower interest rate and monthly payments at the start of your loan. With an adjustable-rate mortgage, your interest rate is locked for a set period of time before it begins to adjust. Rate increases/decreases are limited by an adjustment cap, as well as a lifetime cap.
Affordable Housing Loan Programs
This program enables qualifying low- and moderate-income individuals to obtain a mortgage loan at the lowest possible cost. It offers reduced fees, lower rates and a low down payment.
- Eligibility is based on income and geographic restrictions.
- Purchase and refinance transactions allowed.
- No cost pre-qualifications are available.
Want to build your own home? PGB Mortgage provides competitive rate financing for the construction of new homes and major renovations. At the end of the construction phase, your loan will be modified into a permanent mortgage. We offer Construction-Permanent financing in Essex, Hunterdon, Middlesex, Morris, Somerset and Union counties.
- Finance the purchase of land, construction of a new home and a permanent mortgage all at once.
- Save money on closing costs and related fees with one loan closing for construction through permanent phases.
- Lock in the permanent mortgage rate before construction starts.
- Pay interest only during the construction phase at the permanent mortgage rate.
- Customize the draw schedule and time period to the size of your construction project.
Finance your home with a traditional fixed-rate mortgage and enjoy the stability of fixed monthly payments and a fixed interest rate throughout the life of your loan. Our fixed-rate mortgage is available with a choice of loan terms.
- Interest-Only Option - Get payment flexibility with an interest-only option. This mortgage offers a ten-year interest-only period and then an amortization of principal and interest for the balance of the term. During the interest-only period, you can make extra principal payments at any time.
- Bi-weekly Payment Option - You can save thousands of dollars in interest and build equity over the course of your mortgage by making just half the mortgage payment every two weeks, instead of one full monthly payment. By doing this, you actually make 26 half payments equal to 13 full payments each year. This option is available on some of our fixed-rate mortgage products.
- Refinance Option - Our full line of mortgage products is available for your consideration. To determine whether refinancing is the right option for you, you should compare your new monthly payment calculation, the closing cost expense of refinancing and the effect of refinancing on your long-term interest expense.