Valley Bank Mortgage Review 2026

Valley Bank overview

Valley Bank has been in business since 1927 and currently operates more than 200 branches in Alabama, California, Florida, New York and New Jersey. If you live outside of its geographic footprint, you can still work with Valley Bank online. 

Pros and cons of Valley Bank

How Bankrate scored Valley Bank

Affordability: 3.4 stars

Valley Bank shares sample rates and fees for a few of its products online, but to get a personalized rate, you’ll need to speak with a representative. 

• Interest rates: Valley Bank lists sample rates for its low-down-payment products online which are lower than Bankrate averages at the time of writing. However, the purchase samples are based on a $200,000 loan. Many borrowers would struggle to take out so small a mortgage with a low-down-payment loan.
• Down payment: Along with offering low- or no-down-payment government-backed loans, Valley National Bank’s Community Advantage Program lets qualifying, low-income borrowers put down just 3 percent.
• Fees: Valley Bank doesn’t disclose its standard origination fee, but borrowers with its Community Advantage and Community Plus Programs pay a reduced fee of $495. 

Availability: 4.8 stars

Because of its range of loan products and nationwide lending, Valley received a nearly perfect availability score.

• Home loans offered: Valley offers many of the most common mortgage products — including conventional loans, FHA loans and VA loans — as well as some harder-to-find options, like construction loans. It also has refinancing products, a home equity line of credit, and three Community loan programs for low- to moderate-income borrowers or those buying in low- to moderate-income areas. The two purchase programs feature low down payments, reduced fees and no mortgage insurance, and the HELOC has no closing costs. The bank does not offer USDA loans.
• Footprint: Valley Bank can originate mortgages in all 50 states.
• Where to find: Borrowers can apply online or via mobile app, but you can also talk to someone in person if you live in one of the states with branch locations. 

Borrower experience: 3.4 stars

While Valley's lack of transparency regarding rates and fees makes it less appealing, its customer service stands out from other lenders, and it has a dedicated app for mortgages, unlike many banks. 

• Application and preapproval process: You can do just about everything via Valley’s My Mortgage mobile app, including submitting your documents, sending a message to your loan officer and more. You can also apply online, over the phone or by visiting a local branch.
• Transparency: Valley falls short in the transparency department. The bank publishes only a few sample rates and doesn’t include a list of lender fees.
• Customer service: The bank excels in customer service, offering virtual and in-person homebuyer education courses. Additionally, representatives are available Monday to Friday from 7 a.m. to 10 p.m. ET and on weekends from 8 a.m. to 8 p.m. ET. On holidays — except for Thanksgiving and Christmas — you can reach a representative between 8 a.m. and 5 p.m. ET.

Valley Bank reputation

Valley Bank does not hold accreditation from the Better Business Bureau at the time of this review, but it does receive an A+ rating from the organization.

Valley has earned a reputation for supporting individuals and families facing affordability challenges. In 2023, the bank originated $887 million of multi-family and residential mortgages to support low- and moderate-income people and low- and moderate-income areas.