Let us answer your questions about mortgage rates and more


In a real estate market as challenging as this one, expert guidance is a must. We can provide you with clarity in identifying the right program, term and rate options that make the most sense for you.

Get more with a Valley Bank Mortgage:

  • Knowledgeable, caring, and local mortgage experts ready to assist you

  • Fast and simplified application process with the My Mortgage App.

  • Low to moderate income loans available

  • Government-Sponsored Programs including FHA and VA Loans

  • Jumbo mortgage options available



Contact a mortgage expert to
guide you in your home search




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Apply online, upload your documents, and keep track of your progress along the way with the My Mortgage App.


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Reach out by City, Zip Code, or the name of a Valley expert whom you already know,


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Questions: Call us at 1-888-235-4980.




Mortgage Rate FAQs


  • How are mortgage rates determined?

    Mortgage rates are determined by the amount borrowed and your own personal financial situation, including, but not limited to your credit score, income sources, perceived ability to repay the loan, loan term, down payment—combined with greater economic factors like the federal reserve rate, the prime rate, the overall economy and the housing market.

  • Does my credit score affect my mortgage rate?

    Yes, your credit score can influence your mortgage rate. Past financial decisions as reflected in your credit score help lenders evaluate the risk of lending to you. Also, your credit score can often correlate with the interest rates a bank offers you. The good news is, there are ways to help improve credit before taking out a mortgage including making on-time payments, avoiding new debt and paying off delinquent accounts.

  • What is the difference between interest rate and APR on a mortgage?

    Interest rates and annual percentage rates (APR) are two different ways of expressing costs a borrower incurs when taking out a mortgage:

    1. Interest rate relates to the cost of borrowing, stated as a percentage, on the principal amount of a mortgage. This is the rate the borrower’s monthly payment is based on.

    2. APR measures both the interest charged as well as other costs associated with the loan, such as discount points or lender origination fees. Because APR is designed to show the total cost of a loan, it can be useful when comparing loans from different lenders.

    APRs are usually higher than interest rates because they include additional costs on top of the interest rate. Prior to signing a mortgage, the lender must disclose the loan's APR and interest rate to help the borrower understand what they’ll be responsible for paying.

  • How often do mortgage rates change?

    Mortgage rates can change daily as the economy and housing market fluctuate. However, there is no set schedule of when they will change. Gives us a call at 1-888-235-4980 to discuss our current lending options.

  • What is a mortgage rate lock?

    A mortgage rate lock occurs when a lender agrees to freeze the borrower’s interest rate while the mortgage application is in process. The agreement usually involves a fee and typically lasts 30 to 90 days to protect the borrower from potential rate increases before closing day.