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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. Please click on the link below to be directed to Fountainhead’s website where you can learn more about the Paycheck Protection Program and apply.

When completing the application, please indicate Spencer Savings Bank as the FastTrack Partner, and PaycheckProtectionProgram@SpencerSavings.com as the Referral Partner’s email address. https://www.fountainheadcc.com/ppp/


Spencer Savings Bank is committed to the safety, health and well-being of its customers and employees. As the country continues to deal with the impact of the Coronavirus (COVID-19), we want to take a moment to assure the community that we are closely monitoring the situation which is continuously evolving.

In response to the latest situation regarding this public health crisis, we are temporarily modifying how we conduct business at our financial centers to help minimize the potential spread of the virus. Effective Monday, March 30, 2020, we will be providing lobby service in our financial centers by appointment only. To make an appointment, please call the financial center between the hours of 9:00am – 5:00pm, Monday – Friday and 9:00am – 1:00pm on Saturday. Financial centers with a drive-up facility will continue to operate as usual during the same hours listed above, Monday- Saturday. In the best interest of the public health, if you need to process a teller transaction and your financial center has a drive-up facility, we are asking you to process all teller transactions at the drive-up only. Please know that every effort is being taken to ensure that the bank is able to meet all of your needs while we continue to follow the recommendations from the health authorities.

In addition to taking extra precautions to maintain the cleanliness of our bank locations, we continue to update and educate employees on virus information, as well as reduce employee contact. Please know that the bank has a Pandemic Plan in place with procedures and guidelines for the staff to follow to continue with all business activity.

We would like to take this opportunity to remind customers that most banking transactions do not require a visit to an office. Spencer offers a variety of ways to access your accounts and manage your money without having to visit a financial center. Banking can continue from the comfort of your own home. Most transactions can be handled with a call to our Customer Service Center, with your mobile device, online or at an ATM. Many locations also offer drive through features. All of these options reduce public interaction for both the customer and employee. If you want to explore any of these options, please call your local financial center or our Customer Service Center at 1-800-363-8115.

We also urge all customers to be extra vigilant during this time as there are increased incidents of fraud surrounding the virus announcement. The FDIC has released educational articles regarding this topic with more information.

This is a fluid and evolving situation. We will continue to update you with any new information that becomes available. Our customers are the heart of our business. Thank you for giving us the opportunity to continue to serve you. Together, we will all take the necessary precautions to successfully manage through this difficult time.

Today's Mortgage Rates

Rates as of April 3, 2020, 8:56 am

Owner Occupied
Loan Type Points Interest Rate APR* Monthly Payment Loan Amounts Apply Now Download Application
Per $1000 Borrowed(Desktop, Tablet or Mobile)
30 Year HomeHelper Fixed Rate 0 3.125% 3.147% $4.28 Up To $453,100 Apply Now Download Application
30 Year Fixed Rate 0 3.625% 3.653% $4.56 Up To $484,350 Apply Now Download Application
30 Year Fixed Rate 0 3.625% 3.646% $4.56 $484,351 Up To $1,000,000 Apply Now Download Application
30 Year Fixed Rate 0 3.875% 3.894% $4.70 $1,000,001 Up To $1,500,000 Apply Now Download Application
30 Year Fixed Rate 0 4.125% 4.144% $4.85 $1,500,001 Up To $2,000,000 Apply Now Download Application
20 Year HomeHelper Fixed Rate 0 3.000% 3.031% $5.55 Up To $453,100 Apply Now Download Application
20 Year Fixed Rate 0 3.500% 3.538% $5.80 Up To $484,350 Apply Now Download Application
20 Year Fixed Rate 0 3.500% 3.529% $5.8 $484,351 Up To $1,000,000 Apply Now Download Application
20 Year Fixed Rate 0 3.750% 3.776% $5.93 $1,000,001 Up To $1,500,000 Apply Now Download Application
20 Year Fixed Rate 0 4.000% 4.025% $6.06 $1,500,001 Up To $2,000,000 Apply Now Download Application
15 Year Fixed Rate 0 3.125% 3.172% $6.97 Up To $484,350 Apply Now Download Application
15 Year Fixed Rate 0 3.125% 3.160% $6.97 $484,351 Up To $1,000,000 Apply Now Download Application
15 Year Fixed Rate 0 3.375% 3.405% $7.09 $1,000,000 Up To $1,500,000 Apply Now Download Application
15 Year Fixed Rate 0 3.625% 3.654% $7.21 $1,500,001 Up To $2,000,000 Apply Now Download Application
10 Year Fixed Rate 0 3.125% 3.193% $9.71 Up To $484,350 Apply Now Download Application
10 Year Fixed Rate 0 3.125% 3.176% $9.71 $484,351 Up To $1,000,000 Apply Now Download Application
10 Year Fixed Rate 0 3.375% 3.419% $9.83 $1,000,001 Up To $1,500,000 Apply Now Download Application
10 Year Fixed Rate 0 3.625% 3.667% $9.95 $1,500,001 Up To $2,000,000 Apply Now Download Application

*Select a product to view assumptions and important disclosure information.

Above rates, APRs and terms apply to single family, owner-occupied contract sales and refinances in amounts up to $2,000,000 on properties throughout New Jersey and Bucks County, PA. Private Mortgage Insurance is available for down payments less than 20%. Rates may vary subject to loan amount, loan-to-value ratio, purpose of loan, credit rating, etc. and are subject to change without notice. The APR may vary. Payments shown do not include applicable taxes and insurance. Actual payment obligation will be greater. Property Insurance required. Flood Insurance may be required. APR=Annual Percentage Rate. All loans are subject to credit approval.

Owner Occupied
Loan Type Points Interest Rate APR* Monthly Payment Loan Amounts Apply Now Download Application
Per $1000 Borrowed(Desktop, Tablet or Mobile)
1/1/30 Year Adjustable Rate 0 3.125% 3.040% $4.28 Up To $1 Million Apply Now Download Application
1/1/30 Year Adjustable Rate 0 3.375% 3.045% $4.42 Between $1,000,001 - $1,500,000 Million Apply Now Download Application
1/1/30 Year Adjustable Rate 0 3.625% 3.063% $4.56 Between $1,500,001 - $2,000,000 Million Apply Now Download Application
3/1/30 Year Adjustable Rate 0 3.375% 3.101% $4.42 Up To $1 Million Apply Now Download Application
3/1/30 Year Adjustable Rate 0 3.625% 3.154% $4.56 Between $1,000,001 - $1,500,000 Million Apply Now Download Application
3/1/30 Year Adjustable Rate 0 3.875% 3.209% $4.70 Between $1,500,001 - $2,000,000 Million Apply Now Download Application
3/3/30 Year Adjustable Rate 0 3.250% 2.974% $4.35 Up To $1 Million Apply Now Download Application
3/3/30 Year Adjustable Rate 0 3.500% 3.028% $4.49 Between $1,000,001 - $1,500,000 Million Apply Now Download Application
3/3/30 Year Adjustable Rate 0 3.750% 3.082% $4.63 Between $1,500,001 - $2,000,000 Million Apply Now Download Application
5/1/30 Year Adjustable Rate 0 3.250% 3.105% $4.35 Up To $1 Million Apply Now Download Application
5/1/30 Year Adjustable Rate 0 3.500% 3.190% $4.49 Between $1,000,001 - $1,500,000 Million Apply Now Download Application
5/1/30 Year Adjustable Rate 0 3.750% 3.277% $4.63 Between $1,500,001 - $2,000,000 Million Apply Now Download Application
5/5/30 Year Adjustable Rate 0 3.000% 3.017% $4.22 Up To $1 Million Apply Now Download Application
5/5/30 Year Adjustable Rate 0 3.250% 3.102% $4.35 Between $1,000,001 - $1,500,000 Million Apply Now Download Application
5/5/30 Year Adjustable Rate 0 3.500% 3.189% $4.49 Between $1,500,001 - $2,000,000 Million Apply Now Download Application
7/1/30 Year Adjustable Rate 0 3.375% 3.191% $4.42 Up To $1 Million Apply Now Download Application
7/1/30 Year Adjustable Rate 0 3.625% 3.306% $4.56 Between $1,000,001 - $1,500,000 Million Apply Now Download Application
7/1/30 Year Adjustable Rate 0 3.875% 3.424% $4.70 Between $1,500,001 - $2,000,000 Million Apply Now Download Application
10/1/30 Year Adjustable Rate 0 3.500% 3.324% $4.49 Up To $1 Million Apply Now Download Application
10/1/30 Year Adjustable Rate 0 3.750% 3.477% $4.63 Between $1,000,001 - $1,500,000 Million Apply Now Download Application
10/1/30 Year Adjustable Rate 0 4.000% 3.633% $4.77 Between $1,500,001 - $2,000,000 Million Apply Now Download Application

*Select a product to view assumptions and important disclosure information.

Above rates, APRs and terms apply to single family, owner-occupied contract sales and refinances in amounts up to $2,000,000 on properties throughout New Jersey and Bucks County, PA. Private Mortgage Insurance is available for down payments less than 20%. Rates may vary subject to loan amount, loan-to-value ratio, purpose of loan, credit rating, etc. and are subject to change without notice. The APR may vary. Payments shown do not include applicable taxes and insurance. Actual payment obligation will be greater. Property Insurance required. Flood Insurance may be required. APR=Annual Percentage Rate. All loans are subject to credit approval.

For ARM loans, when the rate adjusts, your new rate will be the current index plus the margin. On the first rate change date, your interest rate cannot increase more than 2% above the initial interest rate. Your interest rate cannot increase more than 6% above the initial interest rate over the term of the loan. Current Index: 1 year ARM = 1 year Treasury, 3/3 ARM = 3 year Treasury, 5/5 ARM = 5 year Treasury; Margin: 1 year ARM = 2.875%, 3/3 year ARM & 5/5 ARM = 2.50%.

 

 

Loan Type Points Interest Rate APR* Monthly Payment Loan Amounts Apply Now Download Application
Per $1000 Borrowed(Desktop, Tablet or Mobile)
10 Year Fixed 0 3.750% 3.806% $10.01 Up To $3,000,000 Apply Now Download Application
15 Year Fixed 0 3.750% 3.789% $7.27 Up To $3,000,000 Apply Now Download Application
20 Year Fixed 0 4.000% 4.032% $6.06 Up To $3,000,000 Apply Now Download Application
30 Year Fixed 0 4.125% 4.148% $4.85 Up To $3,000,000 Apply Now Download Application
1/1/30 Year ARM 0 3.625% 3.876% $4.56 Up To $3,000,000 Apply Now Download Application
3/1/30 Year ARM 0 3.875% 3.897% $4.70 Up To $3,000,000 Apply Now Download Application
3/3/30 Year ARM 0 3.750% 3.868% $4.63 Up To $3,000,000 Apply Now Download Application
5/1/30 Year ARM 0 3.875% 3.897% $4.70 Up To $3,000,000 Apply Now Download Application
5/5/30 Year ARM 0 3.500% 3.843% $4.49 Up To $3,000,000 Apply Now Download Application
7/1/30 Year ARM 0 4.000% 3.957% $4.77 Up To $3,000,000 Apply Now Download Application
10/1/30 Year ARM 0 4.125% 4.054% $4.85 Up To $3,000,000 Apply Now Download Application

*Select a product to view assumptions and important disclosure information.

Above rates, APRs and terms apply to 1-4 family, investment contract sales and refinances in amounts up to $3,000,000 on properties throughout New Jersey, Brooklyn, Queens, Manhattan, Staten Island, Bronx, Rockland or Westchester County, New York and Bucks County PA. Rates are subject to change without notice. The APR may vary. Payments shown do not include applicable taxes and insurance. Actual payment obligation will be greater. Property Insurance required. Flood Insurance may be required. APR=Annual Percentage Rate. All loans are subject to credit approval.

 

Loan Type Points Interest Rate APR* Monthly Payment Loan Amounts Apply Now Download Application
Per $1000 BorrowedOwner Occupied Up to 3MM, Investment Up To 2MM(Desktop, Tablet or Mobile)
10 Year Fixed 0 4.000% 4.075% $10.12 Up To $3,000,000 Contact Us Download Application
15 Year Fixed 0 4.000% 4.052% $7.40 Up To $3,000,000 Contact Us Download Application
20 Year Fixed 0 4.250% 4.292% $6.19 Up To $3,000,000 Contact Us Download Application
30 Year Fixed 0 4.625% 4.657% $5.14 Up To $3,000,000 Contact Us Download Application
1/1/30 Year ARM 0 3.875% 3.903% $4.70 Up To $3,000,000 Contact Us Download Application
3/1/30 Year ARM 0 4.125% 3.961% $4.85 Up To $3,000,000 Contact Us Download Application
3/3/30 Year ARM 0 4.000% 3.932% $4.77 Up To $3,000,000 Contact Us Download Application
5/1/30 Year ARM 0 4.125% 3.994% $4.85 Up To $3,000,000 Contact Us Download Application
5/5/30 Year ARM 0 3.750% 3.939% $4.63 Up To $3,000,000 Contact Us Download Application
7/1/30 Year ARM 0 4.250% 4.033% $4.92 Up To $3,000,000 Contact Us Download Application
10/1/30 Year ARM 0 4.375% 4.218% $4.99 Up To $3,000,000 Contact Us Download Application

*Select a product to view assumptions and important disclosure information.

Above rates, APRs and terms apply to 1-4 family, investment contract sales, and refinances under a Business Entity in amounts up to $3,000,000 on properties throughout New Jersey, Brooklyn, Queens, Manhattan, Staten Island, Bronx, Rockland or Westchester County, New York and Bucks County PA. Rates are subject to change without notice. The APR may vary. Payments shown do not include applicable taxes and insurance. Actual payment obligation will be greater. Property Insurance required. Flood Insurance may be required. APR=Annual Percentage Rate. All loans are subject to credit approval.

 

Program Property Location Income Limits Features
First Time Homebuyer

Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Morris, Passaic, Somerset, Sussex or Union County

No Income Limitations

  • Rate Discount w/Auto-Deduct*
  • Half of Application Fee Waived
  • 10% Down w/No PMI
  • Relaxed Qualifying Standards
Home Helper

Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Morris, Passaic, Somerset, Sussex or Union County

Bergen, Passaic, Hudson:
$63,440
Essex, Sussex, Morris, Hunterdon, Union:
$78,880
Somerset, Middlesex:
$86,480
Mercer:
$84,640

  • Discounted Rates May Apply
  • No Application Fee
  • 10% Down w/No PMI
Community Worker

Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Morris, Passaic, Somerset, Sussex or Union County

No Income Limitations

  • Rate Discount w/Auto-Deduct*
  • No Application Fee
  • 10% Down w/No PMI
Neighborhood

Must be Located in Low to Moderate Income Geography in Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Morris, Passaic, Somerset, Sussex or Union County

No Income Limitations

  • Discounted Rates May Apply
  • No Application Fee
  • Owner-Occupied: 10% Down w/No PMI
  • Investment: 20% Down
Home Enhancer

Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Morris, Passaic, Somerset, Sussex or Union County

No Income Limitations

  • Borrow up to 30% of Improved Value
  • Option to Roll Construction Fees into Mortgage Loan

*Rate discount does not apply to 30 year fixed rate.