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You give to the community every day - now Spencer is giving back to you

Community members employed by Fire Departments, Police Departments, Educational Systems, and Boroughs in more than 60 towns surrounding the 18 Spencer Savings Bank branches are invited to apply for a Community Worker Mortgage for a 1 or 2 family owner occupied NJ property. With this mortgage you will be offered more relaxed lending guidelines,which includes a 10% down payment without PMI (Private Mortgage Insurance) instead of 20% down. There is also a refunded application fee and a 1/8% rate discount when your monthly payments are auto deducted from a Spencer checking account.

Community Program offers:
• Township, Board of Education and Fire Department personnel eligible
• Refunded application fee
• 1/8% rate discount with payments automatically drafted from a Spencer Savings Checking account
• 5% minimum downpayment (requires Private Mortgage Insurance (PMI)
• 10% down payment eliminates Private Mortgage Insurance (PMI)
• No income limits
• Applies to specific townships in Bergen, Essex, Morris, Passaic and Union counties

 
 
   







 

 
Equal Housing Lender | Member FDIC | Spencer Savings Bank | Subject property must be in New Jersey