Affordable Housing Programs

Interested in receiving additional help with your down payment or closing costs? You could be eligible for our Buyers Advantage Subsidy Program depending on where you are planning to purchase a home.

For a limited time only, Provident Mortgage is offering up to $5,000 in additional subsidy money that can be used towards your down payment or closing costs. Contact one of our Mortgage Representatives who can help you determine if the area you are interested in is eligible for our Buyers Advantage Subsidy Program.

Additional benefits include:

• • Subsidy may be used with other grants or down payment assistance programs
  • May be used together with Provident Bank’s Welcome Home Loan which offers discounted interest rates for eligible properties
  • Property must be the primary residence of the borrower

• Down payment as low as 3.5%
• No income restrictions
• Financing for up to four family property
• Terms up to 30 years¹
• Renovation loans are available
• Can accommodate a variety of down payment assistance programs

¹A 5.0% down payment on a 30-year, fixed-rate loan of $380,000 with an interest rate of 6.250% / 6.511 % APR will have 360 monthly principal and interest payments of $2,339.73. Payments shown do not include taxes, homeowners’ insurance, or mortgage insurance (if applicable). Actual payments will be higher. This is assuming a New Jersey purchase transaction, 65-day lock, 95.00 % LTV, 740 FICO, detached single family, owner-occupied, closest to zero discount points, rates change daily.

Subject to credit approval.

• Down payment as low as 3% for primary residence
• Flexible income requirements
• Can accommodate a variety of down payment assistance programs
• 30 year fixed-rate mortgage¹
  • For example: 360 monthly payments of $27.83 per $1,000 borrowed

¹A 5.0% down payment on a 30-year, fixed-rate loan of $380,000 with an interest rate of 6.250% / 6.511 % APR will have 360 monthly principal and interest payments of $2,339.73. Payments shown do not include taxes, homeowners’ insurance, or mortgage insurance (if applicable). Actual payments will be higher. This is assuming a New Jersey purchase transaction, 65-day lock, 95.00 % LTV, 740 FICO, detached single family, owner-occupied, closest to zero discount points, rates change daily.

Borrower must complete an accredited home ownership course to qualify.

Income restrictions may apply.

Subject to credit approval.

• Down payment as low as 3%
• Discounted interest rates for properties located in low and moderate income census tracts within Provident Bank’s assessment area.*
• Can accommodate a variety of down payment and closing costs assistance programs
• No Private Mortgage Insurance (PMI) paid by borrowers on loans in low or moderate income census tracts

^*The Welcome Home Loan product is available only in the following counties in: New Jersey - Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren; New York - Brooklyn, Bronx, Queens, Nassau, and Orange; Pennsylvania - Bucks, Lehigh, and Northampton. Income limitations and maximum loan amounts apply. Borrower may be required to complete an accredited home ownership course to qualify.

Subject to credit approval.