Mortgage Loans

Mortgage Loans

You don't have to sacrifice personal service to get great rates. Come to First Hope Bank for your home loan to get both. Our experts work closely with you to structure a mortgage that is best for you.

Decisions are made locally, by people you meet and trust. As a family-owned bank, we take great pride in our 100 years of making home ownership dreams come true for New Jersey families.

  • Extremely competitive interest rates
  • Wide range of mortgage options
  • Customized plans
  • Local decision-making
  • Personal service at every step
  • No pre-payment penalty
  • Jumbo Loans available
  • FHA and USDA loans available
  • Refinance and cash-out refinance loans available

Learn more and find current rates at

Look at these other great resources to help you prepare from the Consumer Financial Protection Bureau:

Owning a Home

Know Before You Owe

Mortgage Options

Fixed Rate Loan

A fixed rate loan means the interest rate is fixed for the whole term. This provides stability in your monthly payments and ensures your rate won't increase. You can determine what your monthly payment would be by using our Mortgage Loan Calculator.

Adjustable Rate Mortgage (ARM)

An ARM starts off with a lower interest rate and lower payments for an initial period. Then, the loan adjusts to current market conditions. For your protection, there are annual and lifetime caps on the interest rate, and these rates are disclosed at loan origination. An ARM can provide increased purchasing power up front.

Jumbo Loan

A Jumbo Loan is for anyone who wishes to mortgage more than $417,000, up to $3 million. First Hope Bank offers rates that are among the lowest Jumbo Loan rates in New Jersey.

FHA Loan

This loan program of the Federal Housing Administration provides federal assistance so more Americans can become homeowners. FHA loans are typically easier to qualify for. They require less of a down payment and do not require the purchase of separate private mortgage insurance (PMI). There are lending limits to what you can buy with an FHA Loan.

Rural Development Loans

This program of the USDA enables a borrower to purchase a home with no money down. It also allows for the loan to be 103.5% of the purchase price to help pay closing costs. Like an FHA, there is no requirement to purchase PMI. You must meet certain income guidelines to qualify for this federal program, and the property must be located in an eligible Rural Housing zone.