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Lending

5/12/2017

Lending Rates

Please click here for Deposit Products Rate Sheet

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5/22/2017

Residential Mortgage Loan Product and Interest Rate Schedule

Required Downpayments/Equity (Loan to value - LTV):

Loan Amounts up to $424,100 require 95% LTV (with PMI)**
Loan Amounts of $424,100 - $ 550,000 require at least 20% Downpayment (80% LTV)
Loan Amounts of $550,001 - $ 750,000 require at least 25% Downpayment (75% LTV)
Loan Amounts of $750,001 - $1,000,000 require at least 30% Downpayment (70% LTV)

Loan Amounts of $1,000,001 - $2,000,000 require at least 35% Downpayment (65% LTV)

**Refinance Transactions - maximum LTV of 90%
**Purchase Transactions - maximum LTV of 95% (Single Family, Owner-Occupied)

 

Fees:

  • Appraisal Fee - varies by property value - estimate between $500 and $800
  • Appraisal Management/Review Fee varies by property type between $125 and $150
  • Credit Report Fee - $20.41 for one borrower, $37.09 for two, $57.50 for three, $74.18 for four
  • Flood Certification - $10.00
  • Tax return verification $9.75 for two years, $11.75 for three years
  • Attorney Review Fee - $225.00
  • Application Fee - $150.00

ARM Rate Adjustments - INDEX, MARGIN & CAPS:

Index: Weekly Average US Treasury Security Index adjusted to a constant maturity of 1 yr Margin: 2.75%. Maximum Adjustments: 2.00% Per Adjustment / 6.00% Cap over Loan Term

APR may increase after closing for Adj Rate Mtg (ARM) Loans

Notations for all Programs:

* Annual Percentage Rate (APR) - The APR may vary based on loan amount.
- NVE's lending area is ALL of New Jersey and bordering NY towns
- ALL RATES ARE SUBJECT TO CHANGE PRIOR TO CLOSING UNLESS RATE IS LOCKED IN (Requires fee of 1% of Loan Amount which  may be refunded at closing as per the terms of the agreement)
- Rates and terms reflected are for 1-4 family owner-occupied properties in NJ.
- Payments do not include amounts for taxes and insurance premiums, if applicable. The actual payment obligation will be greater than the payment per thousand.
- Property insurance is required.
- Subject to credit approval

 

5/22/2017

Home Equity Loans

All rates subject to change without notice.

Notations for Interest Rates on Home Equity Loans
Loan Linked rates are based upon having monthly loan payments deducted from an NVE Bank checking account which maintains an average monthly collected balance of $1,000.00. Customers requesting loan coupons pay an interest rate of .25% higher.

Loan to Value Limitations Home Equity Loans Accounts
75% of the appraised value unless the combined mortgage balances exceed $500,000, then only 65% of the appraised value will be used up to a combined total of $850,000. Condominium or Townhome: 70% of the appraised value will be used.

Rates and terms reflected are for 1-4 family owner-occupied properties in NJ.

5/22/2017

Home Equity Line of Credit

Notations for Home Equity Lines of Credit
The maximum loan amount for 1-4 family properties is $500,000 and the maximum loan amount for condominiums or townhouses is $250,000.

Maximum lifetime APR 14.25%.

Rates and Terms reflected are for 1-4 family owner-occupied properties in NJ.

5/22/2017

Auto Loans

Notations for Automobile Loans (vehicle must be titled in NJ)
90% maximum loan to value for new automobile loans
80% maximum loan to value for used automobile loans


Commercial and Multi-Family Mortgage Loans

Rates and fees are negotiable. Borrowers are responsible for all third party costs, including appraisal and bank's review attorney. Points may be charged on the loan (a point is a premium or fee equal to 1% of the amount of the loan).

Contact one of our Commercial Loan Specialists at 1-201-816-2800 or 1-866-NVE-BANK (1-866-683-2265):

Alice Vetrone-Layne alayne@nvebank.com
Sam Tolley stolley@nvebank.com

 

Online Banking
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April 11, 2017

Online Banking Browser Compatibility Change

NVE Bank will be enhancing Online Banking security by disabling Transport Layer Security (TLS) 1.0 and 1.1 so that we can maintain the highest standards for our data security and to align with the payment card industry data security standards (PCI DSS) and industry best practices. Our customers will need to verify if their operating systems (OS) or browsers support TLS 1.2 and upgrade if necessary. Failure to do so may result in connection errors.

Below is a basic TLS 1.2 compatibility chart. Please contact NVE Bank at (201) 816-2800 for full details.

Browsers and Operating Systems TLS 1.2 Compatibility Notes
Microsoft Edge Compatible by default
Microsoft IE Desktop and mobile Version 11 Compatible by default
Microsoft IE Desktop versions 9 and 10

Capable when run in Windows 7 or newer, but not enabled by default

Firefox 27 and higher Compatible by default
Goggle Chrome 38 and higher Compatible by default
Mobile Safari versions 5 and higher Compatible by default
Microsoft Windows Server 2008 R2 and higher Compatible by default
Microsoft Windows Server 2008 and below Not compatible with TLS 1.2
Microsoft Windows 7, 8.0, 8.1 and 10 Compatible by default
Microsoft XP/Vista and below Not compatible with TLS 1.2

 

 

 

 

 

 

 

 

 

 

March 16, 2016

FDIC Consumer News (Winter 2016)

A Bank Customer's Guide to Cybersecurity

Member FDIC Equal Housing Lender

NVE Bank is a registered trademark in the U.S.

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