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Lending Rates

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Residential Mortgage Loan Product and Interest Rate Schedule

Required Downpayments (LTV):

Loan Amounts up to $417,000 require 95% LTV (with PMI)*
Loan Amounts of $417,000 - $ 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)



  • 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 - $15.19 for one borrower, $26.64 for two, $41.83 for three, $53.28 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

Investment Properties: (1-4 Family)

Eligible for all ARM programs except 1/1/30 (Add .75% to Rate)
Eligible for 7yr,10yr, 15yr and 20yr Fixed Rate programs (Add .75% to Rate)
Purchase and No Cash-Out Refinance maximum LTV of 75%
Cash-Out Refinance maximum LTV of 65%

Notations for all Programs:

* Annual Percentage Rate (APR) - The APR may vary based on loan amount.
** May be increased after closing for Adjustable Rate Mortgage (ARM)
- 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)





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.


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%.


Auto Loans

Notations for Automobile Loans
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 our Commercial Loan Specialists:

Philippe Ferreira pferreira@nvebank.com 1-866-NVE Bank ext. 1240
Jason Yoon jyoon@nvebank.com 1-866-NVE Bank ext. 1250


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February 25, 2015

Debit Card Phishing Alert

Please be advised that bank customers have reported that they received a text message stating that their debit card is restricted, with instructions to contact customer service at a number provided within the text message or with a link to click on. PLEASE DO NOT RESPOND TO THIS MESSAGE! This appears to be a fraudulent act to gain personal information. Click here for more information.

Member FDIC Equal Housing Lender

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