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9 Best New Jersey Mortgage Lenders of 2021

Here are some of the best mortgage lenders in New Jersey, whether you're a first-time home buyer, a refinancer or a borrower with imperfect credit.

NerdWalletJanuary 2, 2021
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Buying a home in New Jersey is the fun part. Shopping for a mortgage? Not so much. But don’t worry, we’ve cut through the clutter, vetting New Jersey's mortgage lenders to discover which are the best for borrowers' particular needs.

From the hills of Sussex County to the beaches of Cape May, here are some of the best lenders in New Jersey, whether you're a first-time home buyer, a refinancer, a borrower with bad credit, an aficionado of face-to-face transactions or a digital native.

Summary of Best New Jersey Mortgage Lenders of 2021

Rocket Mortgage by Quicken Loans

at Rocket Mortgage by Quicken Loans

Rocket Mortgage by Quicken Loans: NMLS#3030

4.5

NerdWallet rating 
Rocket Mortgage by Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%

at Rocket Mortgage by Quicken Loans

Why we like it

Good for: borrowers who appreciate smartphone and online convenience for a fully digital home loan experience powered by Quicken Loans.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Offers document and asset retrieval capabilities.

Cons

  • If you’re a “look me in the eye” type of customer, you’re out of luck.

  • Getting a customized interest rate requires a credit check, which can lower your credit score by a few points.

Read Full Review
New American Funding

at New American Funding

New American Funding: NMLS#6606

4.5

NerdWallet rating 
New American Funding

Min. Credit Score

620

Min. Down Payment

3%

at New American Funding

Why we like it

Good for: borrowers who need to be evaluated on the basis of nontraditional credit and those interested in various down payment assistance programs.

Pros

  • Uses manual underwriting to evaluate creditworthiness.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.

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Guaranteed Rate

at Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0

NerdWallet rating 
Guaranteed Rate

Min. Credit Score

620

Min. Down Payment

3%

at Guaranteed Rate

Why we like it

Good for: borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.

Read Full Review
loanDepot

at loanDepot

loanDepot: NMLS#174457

3.5

NerdWallet rating 
loanDepot

Min. Credit Score

620

Min. Down Payment

5%

at loanDepot

Why we like it

Good for: borrowers looking to refinance or who want to start the application process online.

Pros

  • Offers digital income, asset and employment verification.

  • Offers multiple renovation loan options.

  • Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.

  • Does not offer home equity loans or lines of credit.

Read Full Review
Chase

at Chase

Chase: NMLS#399798

4.5

NerdWallet rating 
Chase

Min. Credit Score

620

Min. Down Payment

3%

at Chase

Why we like it

Good for: borrowers who want a name-brand bank, with offices in more than half the states, that charges lower rates and fees than many other lenders.

Pros

  • Allows electronic submission and tracking of loan documents.

  • Carries a wide variety of mortgage types and products.

  • Generally offers good rates and charges reasonable fees.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.

  • You have to speak with a home loan advisor to complete the application.

Read Full Review
Citibank
Read review

Citibank: NMLS#412915

5.0

NerdWallet rating 
Citibank

National / Regional

National

Min. Down Payment

3%

Read review

Why we like it

Good for: Borrowers wanting to compare mortgage rates online for a variety of loan options.

Pros

  • Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.

  • Provides customizable mortgage rates on its website.

  • Offers low rates and fees compared with other lenders.

Cons

  • Charges a mortgage application fee.

  • Requires help from a mortgage loan officer to complete the loan application online.

Read Full Review
Bank of America
Read review

Bank of America: NMLS#399802

5.0

NerdWallet rating 
Bank of America

Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: first-time home buyers looking for low-down-payment options and existing customers who may get a discount on fees.

Pros

  • Allows borrowers to apply entirely online.

  • Offers down payment and closing cost assistance programs.

  • May give existing customers a discount on mortgage lender origination fees.

Cons

  • Does not offer renovation loans.

Read Full Review
PNC
Read review

PNC: NMLS#446303

4.5

NerdWallet rating 
PNC

Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: borrowers with low-to-moderate incomes or limited down payments. PNC offers several low-down-payment loans, including one with no mortgage insurance.

Pros

  • Posts current mortgage rates on its website.

  • Has an online application for mortgage preapproval and a digital tool to track application progress.

  • Offers several affordable loan options including FHA, VA, USDA and the PNC Community Loan.

Cons

  • Can't complete a full mortgage application online.

  • Doesn't offer renovation mortgages.

  • In-person service is not available in every state.

Read Full Review
Carrington
Read review

Carrington: NMLS#2600

3.0

NerdWallet rating 
Carrington

Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: first-time home buyers or credit-challenged borrowers interested in government loan products.

Pros

  • Offers multiple low-down-payment loan programs.

  • May consider alternative credit data, like bank statements and rent payments.

Cons

  • To get sample rates, you'll have to speak with a loan officer.

  • Doesn't offer home equity loans or HELOC.

Read Full Review

Last updated on January 2, 2021

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best New Jersey Mortgage Lenders of 2021