Two innovative mortgage programs for first-time homebuyers 

    

At Valley, we work diligently to help as many people achieve the dream as possible. That extends to people whose income levels might cause them to think that the dream does not apply to them.
 
That is why, in addition to government-sponsored programs from FHA, USDA , the VA and both Fannie Mae and Freddie Mac, Valley offers these proprietary programs with special benefits for first-time homebuyers.  

    
   



  
 

Community Advantage Program

30-year fixed rate

 

Who is this program for?

First-time homebuyers who themselves are low-moderate income households (income less than 80% of the area median income).

  

Why choose this program?

  • Up to 97% loan to value (as little as 3% down payment)

  • No Private Mortgage Insurance Required 

  • Mandatory Pre and Post purchase counseling required by Valley-approved agency

  • Income limits and location restrictions apply
   
  
 

Community Plus Program

30-year fixed rate

 

Who is this program for?

First-time homebuyers who are purchasing in low-to-moderate income communities. No income limits apply. 

        

Why choose this program?

  • Up to 95% loan to value (as little as 5% down payment)

  • No Private Mortgage Insurance Required 

  • Mandatory Pre and Post purchase counseling required by Valley-approved agency

  • Location restrictions apply
   
  
  
  

Ready to get started?

 

Contact one of our Community Mortgage
Program experts to begin:



 

Sofi Cordero - NJ/NY

Sofi Cordero - NJ/NY
201-428-8052
scordero@valley.com

 

    

Leo Diaz - FL/AL

Leo Diaz - FL/AL
813-345-5526
lediaz@valley.com



 

Disclosure:

As of 10/16/2023, an example in Paterson, NJ that illustrates a $240,000 / 30-year fixed-rate Community Advantage mortgage with a 3% down-payment in Paterson, NJ has an APR of 6.209% and a monthly P&I payment of $1,400.57; an example in Paterson, NJ that illustrates a $240,000 / 30-year fixed-rate Community Plus mortgage with a 5% down-payment has an APR of 6.184% and a monthly P&I payment of $1,419.69. Estimated monthly payments do not include taxes and insurance premiums and the actual payments will be greater. Additional terms and conditions apply. Geographic conditions apply. Income eligibility limits may apply. Subject to credit approval.

  
   
  

We are happy to welcome you on The Journey to Homeownership

Our Journey to Homeownership webinar is specially designed for first-time homebuyers. Register today for an upcoming webinar to learn about the basics of home financing, determining what you can afford, low down payment options, and more.

Find Webinar
Our Journey to Homeownership webinar is specially designed for first-time homebuyers. Register today for an upcoming webinar to learn about the basics of home financing, determining what you can afford, low down payment options, and more.