Make your homebuying or refinancing journey simpler with a mortgage team by your side

You can start your mortgage application by:

• Visiting our branch and speaking with a mortgage specialist
• Calling our mortgage department to schedule an appointment: (973) 471-0700 ext. 117

Our team will guide you through the application process, documentation, and approval steps.

You can either contact us directly or download the checklist to see the required documents.

Mortgage payments can be made via:

• Automatic payments from your Nova UA FCU account
• Online or mobile banking
• In person at the branch
• By mail
• External payment

No, Nova UA FCU does not currently offer FHA loans. If you are interested in other mortgage options or down payment assistance programs, please contact us to learn about the alternatives we provide.

Mortgage loans are available in most states within the United States. If you have any questions about purchasing a property, please feel free to contact us. We’re happy to help.

Fixed Rate Mortgage

The interest rate remains the same throughout the loan term, ensuring consistent monthly payments. This option is ideal for borrowers seeking long-term financial security and those who prefer the certainty of a fixed payment schedule, unaffected by market fluctuations.

Variable Rate Mortgage

A variable rate mortgage typically begins with a lower interest rate than a fixed-rate mortgage, offering potential cost savings in the early years. As market conditions change, your interest rate may adjust periodically. In periods of lower or stable interest rates, borrowers can benefit from reduced payments, making it a flexible and cost-effective choice for those comfortable with some variability in their loan terms.

Choosing the Right Mortgage

While fixed rate mortgages offer unwavering consistency, variable rate mortgages provide the opportunity for savings and adaptability, especially when interest rates are favorable. Depending on your financial goals, market conditions, and comfort with changes in your payment schedule, a variable rate mortgage may be a beneficial option to consider.

We typically require either:

• 20% of the sale price as a down payment to avoid private mortgage insurance (PMI), or
• 10% down payment plus PMI (Private Mortgage Insurance), which protects the lender and allows for a lower down payment.

Our mortgage specialists can help you determine the best option based on your financial situation.