Community Advantage Program

30-year fixed rate. As little as 3% down payment.

        

Who is this program for?

Valley’s Community Advantage Program was created with special benefits designed for first-time homebuyers who are low-moderate income households (income must be less than 80% of the area median income). Contact us or reach out to one of our experts to begin.

  

  • Borrow up to 97% of purchase price or appraised value, whichever is less.

  • No Private Mortgage Insurance Required 

  • $495 reduced origination fee, which includes credit report, flood certification and tax service fee.

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

 

       
Contact us           Additional programs


 

Disclosure:

As of 12/22/2023, a sample $200,000, 30-year fixed rate Community Advantage mortgage in Paterson, NJ with a down payment of 3% has an APR of 6.217% and a monthly principal and interest payment of $1,132. The sample monthly payments does not include taxes and insurance premiums and the actual monthly payments will be greater. APRs are subject to change without notice. Program is only available in select geographic communities, and income limits apply. Automatic ACH payments from a Valley checking account are required. Subject to credit approval. Additional terms and conditions apply. Valley National Bank. NMLS# 41125

 

     
 

Want an expert to contact you? Complete the form below

  
( ) -
How did you hear about us?:




Or 

 

Contact one of our Community Mortgage
Program experts to begin:



 

Sofi Cordero - NJ/NY

Sofi Cordero - 
NJ/NY
NMLS #:1802773 
201-428-8052
scordero@valley.com

 

    

Leo Diaz - FL/AL

Leo Diaz - 
FL/AL
NMLS #:1829468 
813-345-5526
lediaz@valley.com


 

Check out our other Community Programs



 

   

Community Plus Program

30-year fixed rate. As little as 5% down payment.

 

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 

  • No Private Mortgage Insurance Required 

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

  • $495 reduced origination fee, which includes credit report, flood certification and tax service fee.

   
  

  

Community HELOC

Line of Credit with 6.29%* APR for first 12 months Then a variable rate as low as 8.00% APR.

 

Who is this program for?

Current homeowners looking to borrow money at a reasonable rate for home renovations, business funding or other expenses.

        

Why choose this program?

  • Home upgrades may be more economical than purchasing a new home

  • You can access funds for 10 years, with a 20-year repayment period.

  • No Closing Costs

  • Specially designed for low to moderate income households

   
   
Contact us


Disclosure:
As of 12/22/2023, a sample $200,000, 30-year fixed rate Community Plus mortgage in Paterson, NJ with a down payment of 5% has an APR of 6.194% and a monthly principal and interest payment of $1,124. The sample monthly payment does not include taxes and insurance premiums and the actual monthly payments will be greater. APRs are subject to change without notice. Program is only available in select geographic communities. Automatic ACH payments from a Valley checking account are required. Subject to credit approval. Additional terms and conditions apply. Valley National Bank. NMLS# 411254

The Home Equity Line of Credit introductory Annual Percentage Rate (APR) of 6.29% is fixed for the first 12 months from account opening. After that, the variable APR applicable to your account will be indexed to the highest Prime Rate published in The New York Times for the last banking day preceding the first day of each billing cycle. As of 1/29/2024, the Prime Rate is 8.50%. This offer assumes applicants with excellent credit and includes discounts of 0.25% when Valley holds a first lien on the mortgaged property and 0.25% when the combined loan to value of all liens is less than 70%. The maximum APR is 15.9% and the minimum APR is 3.50%. The maximum line amount for this offer is $250,000. A $75 annual fee applies. The term of the line includes a 10-year draw period with a 20-year repayment period. This offer is limited to new lines only for owner-occupied primary residences. Homeowners insurance is required; flood insurance is required where necessary. Minimum draw is $500. An early termination fee of $490 applies to NJ, PA and AL properties if your account is terminated during the first 15 months; for NY and FL properties, you must reimburse Valley for out-of-pocket origination expenses if your account is terminated during the first 36 months. Applicants must have income that is less than 80% of the area median income with a property in a Valley assessment area, or the subject property must be located in low income to moderate income census tract in a Valley assessment area. Subject to credit approval. Additional terms and conditions apply. Offer may be withdrawn without notice. NMLS # 411254.
 


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.

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.