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Lending Rates

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Residential Mortgage Loan Product and Interest Rate Schedule

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

Loan Amounts up to $453,100 require 95% LTV (with PMI)**
Loan Amounts of $453,200 - $750,000 require 80% LTV
Loan Amounts of $750,100 - $1,000,000 require 70% LTV

Loan Amounts above $1MM generally require a maximum 70% LTV together with required Board Approval.

**Refinance Transactions - maximum LTV of 90% (with PMI)

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



  • Appraisal Fee - varies by property value - estimate between $500 and $800
  • Credit Report Fee - $27.51 for one borrower, $51.02 for two, $78.53 for three, $102.04 for four
  • Flood Certification - $10.00
  • Tax return verification $9.75 for two years, $11.75 for three years
  • Attorney Review Fee - $250.00 (Payable at Closing)
  • Application Fee - $200.00

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



Home Equity Loans

All rates subject to change without notice.

Notations for Interest Rates on Home Equity Loans

* Application Fee of $100 collected upon acceptance of Loan Estimate.

** Interest rates listed are for borrowers using loan coupons. If customer opts for Loan Linked account which are based on having monthly loan payments being deducted from a qualified NVE Bank checking account, which maintains an average monthly collected balance of $1,000.00, the interest rate will be 0.250% lower resulting in a lower APR (Annual Percentage Rate).

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 $750,000.

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


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.

* Application Fee of $100 collected upon submission of signed Initial Disclosure.

Maximum lifetime APR 14.25%.

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


Auto Loans

Notations for Automobile Loans (vehicle must be titled in NJ)
Available for autos registered in New Jersey (excluding residents of Atlantic, Burlington, Cape May, Cumberland, Gloucester and Salem Counties)
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):

Sam Tolley stolley@nvebank.com


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