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  Coronavirus Update

We are offering a SBA Paycheck Protection Program to support our business customers. Read More

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. Among other forms of economic aid, the CARES Act provides businesses affected by COVID-19 with special assistance programs. One such Small Business Administration (SBA) program is the Paycheck Protection Program, which assists businesses with job retention and specific expenses. Spencer Savings Bank is proud to partner with FOUNTAINHEAD Commercial Capital / Small Business Finance, a top national SBA lender, to offer the Paycheck Protection Program for businesses in need. Click on the link below to fill out our short internal application form. After completing the form you will be directed to Fountainhead’s website with more information. Internal Application

When completing the application, on the Fountainhead website, please indicate Spencer Savings Bank as the FastTrack Partner, and PaycheckProtectionProgram@SpencerSavings.com as the Referral Partner’s email address.

Community Worker Mortgage

Spencer is proud to offer the Community Worker Mortgage, designed specifically for New Jersey healthcare/medical workers, police officers, firefighters, DPW workers, borough employees, teachers and others employed within the education system. This is our way of giving back to our communities, and helping you purchase or refinance the home of your dreams.

Community Worker Mortgage features:

  • Discounted Loan Rates
  • No Application Fee
  • Fixed and Adjustable Products Available
  • 10% Down Payment w/No PMI
  • Rate Discount w/Auto-Deduct
  • No Income Limitations

Eligibility Requirements:

  • Employed in Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Morris, Passaic, Somerset, Sussex or Union County
  • To Qualify for Rate Discount, Monthly Mortgage Payment Must be Auto-Deducted from a Spencer deposit account
  • Applicant Must Meet Employment Guidelines
  • Owner-Occupied 1-2 Family Homes and Single Family Vacation Homes
  • Lender – Approved Condo Projects Eligible with 15% Down Payment

Apply Now

Today’s Rates

Contact Us Today!

Jim Harilaou

Mortgage Sales Representative
NMLS# 519891
1-201-703-3800 ext. 8336