What is NVE Bank?
NVE Bank is a community bank that has been serving customers in the tri-state area since 1887. With over 130 years of experience, NVE Bank has a long history of providing excellent customer service, competitive rates, and a suite of products and services tailored to meet the needs of its customers. NVE Bank is headquartered in Englewood, New Jersey and has 20 branches throughout Northern and Central New Jersey, as well as in New York and Pennsylvania.
Types of Mortgages Available
NVE Bank offers a variety of mortgage options for new home purchases or refinancing. Customers can choose from Fixed-Rate Mortgages, Adjustable-Rate Mortgages, FHA Loans, VA Loans, and Jumbo Loans. All of their mortgages come with competitive rates and flexible terms, allowing customers to find the mortgage that best fits their needs.
Fixed-Rate Mortgages
Fixed-rate mortgages are the most popular choice for home buyers and those looking to refinance. With a fixed-rate mortgage, the interest rate remains the same throughout the life of the loan, so customers can be sure that their monthly payment won’t change. NVE Bank offers fixed-rate mortgages with terms ranging from 10 to 30 years.
Adjustable-Rate Mortgages
Adjustable-rate mortgages (ARMs) can be a good option for those who don’t plan to stay in their home for a long period of time. With an ARM, the interest rate can change over time, which can result in a lower monthly payment. NVE Bank offers ARMs with terms ranging from 3 to 10 years.
FHA Loans
FHA loans are a great option for first-time home buyers or those with less-than-perfect credit. FHA loans are insured by the Federal Housing Administration and can be easier to qualify for than conventional loans. NVE Bank offers FHA loans with terms ranging from 10 to 30 years.
VA Loans
VA loans are available to eligible veterans, active-duty military personnel, and their surviving spouses. VA loans are guaranteed by the Department of Veterans Affairs and are available with terms ranging from 10 to 30 years.
Jumbo Loans
Jumbo loans are available for loan amounts that exceed conforming loan limits. NVE Bank offers jumbo loans with terms ranging from 10 to 30 years.
Current Mortgage Rates
NVE Bank offers competitive mortgage rates for all types of loans. As of 2023, the current rates are as follows:
- 30-year fixed-rate mortgage: 3.75%
- 15-year fixed-rate mortgage: 3.25%
- 5/1 ARM: 2.75%
- FHA 30-year fixed-rate mortgage: 3.5%
- VA 30-year fixed-rate mortgage: 3.5%
- Jumbo 30-year fixed-rate mortgage: 4.25%
Conclusion
NVE Bank is a great option for those looking for competitive mortgage rates and flexible terms. With over 130 years of experience, NVE Bank offers a variety of mortgage options to meet the needs of its customers. Whether you’re looking to purchase a new home or refinance your existing mortgage, NVE Bank has the right loan for you.
