Valley Bank Reviews

Valley Bank is a commercial bank and direct lender based in New Jersey. It’s been around since 1927 and offers personal and business banking options, wealth management services and several mortgage and refinancing options. Borrowers can apply for a loan online or visit a local branch to apply in person.

Valley Bank has over 200 physical branches, and it has offices in Alabama, California, Florida, New Jersey and New York.

Interested borrowers can either start an application online or contact Valley Bank directly and apply with a loan officer. You can get prequalified by entering your contact information, estimated home price and gross income. Then, a representative will contact you to complete the process. Prequalification won’t affect your credit, but if you decide to apply officially, Valley Bank will perform a hard credit check on all named borrowers.

You can also apply for a loan using the Valley Mortgage app, which you can use to upload documents, message your loan officer and track the progress of your application.

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Valley Bank application process features

The table below shows some of Valley Bank’s application process features:

The only rates Valley Bank advertises are for its home equity lines of credit (HELOCs), which have a maximum annual percentage rate (APR) of 15.9% and a minimum APR of 3.5%. Its current HELOC rates as of April 1, 2026 are 5.79% APR for the first 12 months, after which a variable APR of 6.125% applies.

While Valley Bank doesn’t list mortgage rates online, your rate typically depends on factors such as your:

• Credit score
• Debt-to-income (DTI) ratio
• Down payment amount
• Loan amount, term and type
• Loan-to-value (LTV) ratio

» MORE: Current mortgage rates — check today’s rates

Valley Bank offers several types of loans and refinancing options for borrowers.

Conventional loans

Conventional loans are available with fixed or adjustable rates, giving borrowers flexibility in how they structure their payments.

Jumbo loans

Valley Bank also offers jumbo loans, which are generally for homes in excess of $800,000.

Government-backed loans

Valley Bank offers government-backed loans through the Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA). These loans allow borrowers to qualify with lower down payments and more lenient credit requirements.

Refinancing loans

Borrowers can choose from standard refinancing or cash-out refinancing options.

Home equity loans and HELOCs

Valley Bank offers home equity loans and HELOCs. A home equity loan is a second mortgage that uses the equity in your home as collateral for a lump-sum loan. HELOCs give you a revolving credit line you can draw from as needed, and you’ll only repay what you use.

Construction loans

Construction loans are used for new home construction, major renovations or land purchases, though certain restrictions apply.

Community mortgage programs

Valley Bank offers two community mortgage programs. These are special loan programs for eligible first-time or low-to-moderate-income borrowers. Benefits include down payments as low as 3% or 5%, a reduced origination fee and no private mortgage insurance (PMI) requirements.

Borrower requirements at Valley Bank vary by loan and are not listed online. The best way to find out what loans you qualify for is to contact the company directly and fill out an application.

Valley Bank doesn’t publish many of its home loan costs or fees online. In general, borrowers can expect to pay closing costs, which typically include fees like appraisal, recording and origination fees.

Valley Bank’s only listed costs are for its community mortgage programs, where some borrowers can qualify for a reduced origination fee of $495. The company also states that HELOCs have an annual fee of $75, and early termination fees may apply in certain states. Home equity loans under $350,000 come with no closing costs.