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 25% Down Payment

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