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FDIC-Insured - Backed by the full faith and credit of the U.S. Government

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FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Community AdvantageSM Loan Program 

Our Community Advantage℠ Loan Program was created with you in mind. Designed to support homebuyers in designated Program Areas¹, this loan offers competitive rates and flexible terms to help make your homeownership goals more achievable.

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Community Advantage

Features

30-Year Fixed Community AdvantageSM

5.625% Rate |  5.670% APR*

  • A fixed interest rate for the entire term of your loan
  • Down payment as low as 5%
  • Some borrowers may qualify for lender paid Private Mortgage Insurance (PMI)
  • No income limitations for borrowers
  • Additional Special Rate Discount+ of .25% for loans in a low-income census tract within the Program Area1

 

Plus, certain approved borrowers for a Community AdvantageSM Loan may be eligible for our Community AdvantageSM Subsidy2 which offers $5,000 towards closing costs or down payment expenses.

Program Interest Rate Annual Percentage Rate (APR)* Monthly Principal & Interest Payment Amount*

Community AdvantageSM Loan Program

 5.625% 5.670% 360 equal and consecutive monthly payments of $1,870.88

+Low Income Census Tract in Program Area1

 5.375% 5.420% 360 equal and consecutive monthly payments of $1,819.91

Program

Community AdvantageSM Loan Program

Interest Rate

5.625%

Annual Percentage Rate (APR)*

5.670%

Monthly Principal & Interest Payment Amount*

360 equal and consecutive monthly payments of $1,870.88

Program

+Low Income Census Tract in Program Area1

Interest Rate

5.375%

Annual Percentage Rate (APR)*

5.420%

Monthly Principal & Interest Payment Amount*

360 equal and consecutive monthly payments of $1,819.91

See today's mortgage rates

Tools & Resources

Contact a
Mortgage Rep

Contact one of our experienced mortgage reps in your area.

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Mortgage
Calculators

Use our calculators to handle the small details so you can make the big decisions.

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Home Loan
FAQs

Get answers to common home loans questions.

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Financial Wellness
Center

Need some help with your homebuying journey? We have several educational resources where you can strengthen your knowledge about home loans.

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Frequently Asked Questions

Disclosures

[*] Annual Percentage Rate (APR) effective as of July 3, 2026 and subject to change anytime. Community AdvantageSM assumptions and disclaimers for rates and payment examples are based on: $325,000 loan amount, a minimum credit score of 620, 95% LTV, purchase of the borrower’s primary residence, single family detached property, first lien mortgage. Principal and interest payments do not include taxes or insurance. Actual payment obligation may be greater. Maximum loan amount is $766,550. Borrowers may be required to complete an accredited home ownership course to qualify. Subject to credit approval. Other financing options are available for 2-4 family properties under the Community AdvantageSM Loan Program, ask your Provident Mortgage Representative for more details.

[1] Program Area: Community AdvantageSM Loan is available in the following counties in NJ: Essex, Morris, Somerset, Sussex and Union counties in designated Majority Black and Hispanic Census Tracts (MBHCT). Contact your Provident Bank Mortgage Loan Officer to determine if your property is in a low income census tract or MBHCT area.

[2] The Community AdvantageSM Subsidy is available only to income-qualified borrowers for the purchase of a primary residence located in the Community AdvantageSM Loan Program Area in NJ (Essex, Morris, Somerset, Sussex, and Union Counties in NJ). Borrowers can use the Community AdvantageSM Subsidy dollars towards down payment or closing cost assistance.

Lender NMLS #645602