New Jersey Home Loan Products
From The Provident Bank of NJ
Current Home Equity Loan Rates
At The Provident Bank we have a wide variety of mortgage products to fit your needs. Please click on the links below to learn more about each product.
NO Points, NO Closing Costs!
Our Home Loan Products, include:
Adjustable Rate Mortgage (ARM) Loans
Our ARM loans are available for 1-4 family home purchases and refinances. The maximum mortgage loan amount available for owner-occupied homes is $1,500,000. The interest rate is the same for either conforming or jumbo mortgage amounts. We offer several loan terms that adjust annually after the fixed-rate period. In addition, ARM loans can be used to purchase or refinance investment properties, condos, town homes, and construction/permanent loans. Plus, you can lock in a rate – and keep that rate, even if interest rates go up – for up to 90 days before closing. If rates go down, your locked-in rate will "float down," and you will receive the lower rate.* * Rate established 7 days prior to closing.
The Provident Bank offers standard fixed-rate mortgage loans for 1-4 family home purchases and refinances. We provide a wide variety of low down payment loan options. Loans on investor purchases, condos, town homes, as well as vacation and second homes, are also available under the conforming loan program.
Jumbo Fixed-Rate Loans
To fulfill the needs of those applicants whose mortgage loan amounts exceed the standard conforming limits, we offer fixed-rate loans for 1-4 family home purchases and refinances up to $1 million. There are many loan programs including low down payment, no-income verification, bi-weekly payment, condo/town homes, and investment property.
First-Time Homebuyer Program
In an effort to encourage home ownership, we offer adjustable rate mortgage loans with special interest rates to those purchasers who qualify under the First-Time Homebuyer program.
Federal Housing Administration (FHA) Loans
Low or no money down programs are available to help satisfy the needs of all buyers. We also provide refinancing options under these programs. Qualifications and restrictions are based on FHA loan guidelines.
Neighborhood Loan Program
This is a special program for people buying or refinancing a home in the New Jersey counties we serve. Through this program, low- and moderate-income homebuyers achieve their goal of owning a home with mortgage payments they can afford. Fixed, adjustable, and FHA mortgage loans are available. Reduced rates are available to low- and moderate-income applicants and on loans where the home is located in a low-to moderate-income census tract.
NJ Home Equity Loan Programs
Fixed Rate Home Equity Loans
A home equity loan is a fixed amount at a fixed rate for a fixed period of time. The Provident Bank of NJ offers home loans for periods of up to 20 years. Depending upon how much equity you have in your home, you can borrow up to $500,000.00. Once the rate is set, you know what your montly payments are going to be for the entire term of the loan, and you are protected against a rise in interest rates. One of the principal advantages of this kind of loan is certainty. You know the amount of the home loan, the duration and the rate, so you easily factor it into household financial planning.
Qualified residences of counties served by The Provident are eligible for an extra quarter percent (.25%) rate reduction. The program is limited to 1-4 family owned-occupied residence with a maximum loan amount of $500,0000.00. (Income limits apply)
1st Lien Home Equity Loans
A fixed rate mortgage is available to customers with no other outstanding liens/mortgages or all existing liens will be paid off with this loan, for a maximum of 20 years with "NO CLOSING COSTS". You can borrow up to $500,000.00. With the confidence that your interest rate and monthly payment will never increase. And, best of all, the interest on your loan may be tax deductable. (Consult your tax advisor.) Loans availabe for 1-4 family owner occupied residences and condos. Financing availalbe to 80% of the property's value. Higher loan to value programs are available.