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WELCOME HOME LOAN

Searching for a home and could use some financial assistance? Our Welcome Home Loan** may be right for you! It’s designed to help low to moderate income homebuyers achieve their dream of homeownership.

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30-Year Fixed Welcome Home

6.375%Rate  |  6.671%APR*

 

Features

  • Down payment as low as 3%
  • Lower interest rates available for properties in low or moderate income census tracts+
  • No Private Mortgage Insurance (PMI) paid by borrowers on loans in low or moderate income census tracts
  • Accommodates a variety of down payment and closing costs assistance programs including grants, subsidies and savings clubs from eligible public and government agencies
  • Plus ask about our Buyer's Advantage Program1 which offers $5,000 toward closing costs or down payment expenses 

**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.

+Rate Discounts are limited to properties located in a low or moderate income census tract within the Bank's assessment area. Income limitations apply. To see if your property is in a low or moderate income census tract: https://www.huduser.gov/portal/qct/screen2.html

1Property being purchased must be located in a low or moderate income census tract within Provident Bank’s assessment area.

* 

Effective Date December 17, 2024

Welcome Home assumptions and disclaimers for above rates and points examples are based on: $260,000 loan amount, a minimum credit score of 660, 95% LTV, primary residence, single family detached property, first lien mortgage. 30-year fixed mortgage monthly payment example is 360 equal and consecutive monthly payments of $1,687.06. Principal and interest payments do not include taxes or insurance. Actual payment obligation may be greater. Rates may be higher for refinancing of subordinate liens. Rate Lock periods are 65 days for purchases and refinances. Rates are subject to change. Subject to credit approval.

Lender NMLS #645602

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