Valley National Bank was founded in 1927 and has locations in New Jersey, New York, and Florida. The bank offers numerous options, so you can achieve your goals. You can apply for a 15-year mortgage or a 30-year mortgage. Valley National Bank mortgage rates are the lowest available. This article will provide the latest and up-to-date information about mortgage rates.

Valley National Bank Current Mortgage Rates

You can find the current mortgage rates online. You need to decide how long you wish the life of your loan, and you can look at the current rates.

Type of Mortgage Rate Interest Rate APR (Annual Percentage Rate) Estimated Monthly Payment
30-year fixed 3.87% 3.95% $1186.34
20-year fixed 3.75% 3.86% $1496.57
15-year fixed 3.12% 3.26%  $1757.89
10-year fixed rate 3.12% 3.33% $2452.29
7/1 ARM  3.12%  3.53% $1126.80
5/1 ARM 3.00% 3.48% $1119.82

***Rates can change each day, so you need to check the website for the latest information about rates.

Bonus read: Valley National Bank Mortgage Account Login

Valley National Bank Mortgage Rates Additional Information

You can get a fixed loan or an adjustable rate loan. With a fixed rate loan, you will always know what your monthly payment amount will be, and the principal amount will not change. With an adjustable rate mortgage, after the initial period, the rate could increase or decrease.

The shorter the life of the loan, the more money you will save in interest; however, your monthly payment amount will be higher. You do have the option to refinance the loan. By refinancing, you can lower your interest rate or shorten the life of the loan. You can also increase the life of the loan and decrease your monthly payments.

If you need a larger loan, jumbo loans are available. You can apply for a jumbo loan for up to $1 million. If you would like more information about jumbo loans, you can request info on the website.

If you wish to pay off your loan early, you can make bi-weekly payments. You can also get pre-qualified for a mortgage online. You will know exactly how much you can spend on the loan, and you can begin looking for your new home.

Monthly Mortgage Payment Example

Type of Mortgage Rate 30-year fixed rate 20-year fixed rate 15-year fixed rate
Mortgage Amount $250,000 $250,000 $250,000
Interest Rate 3.87% 3.75% 3.12%
APR (Annual Percentage Rate)  3.95% 3.86% 3.26%
Number of Payments 360 240 180
Average Monthly Payment $1186.34 $1496.57 $1757.89
Total Amount of Interest $177,083.51 $109,177.25  $66,419.70
Total Amount Paid $427,083.51 $359,177.25 $316,419.70

***The values in this table are approximate results of our calculations and can vary based on the type of credit you opt for. Please note that these are our examples and not offered by the financial institution.

Valley National Bank remains committed to giving you the best mortgage experience. You might be a first-time homebuyer, or you might be purchasing your second home. Valley National Bank experienced staff can walk you through the process. The Valley National Bank mortgage rates are competitive and will provide you with a loan that you can afford.