Best of
Best NJHMFA Mortgage Lenders of 2019
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The NJHMFA helps first-time home buyers in New Jersey by offering substantial financial assistance. NerdWallet has done the research to surface some highly rated participating lenders.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Participates in some down payment assistance programs.
- Offers educational resources for military borrowers.
- Provides digital tools for a streamlined application process.
Cons
- No mortgage rates displayed online.
- Must work with a loan officer for pre-qualification and preapproval.
National / Regional
National
Min. Down Payment
3%
Pros
- A robust suite of loan products.
- Licensed in all 50 states.
- Close in as little as 10 days using the Fairway app.
Cons
- Limited branch locations.
- Mortgage rates not posted on website.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Works with most borrowers as long as they have good credit scores and incomes.
- Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.
- Has a 95% customer satisfaction rate, according to company data.
Cons
- Charges some fees, such as a $1,290 lender fee that includes a $150 application fee.
- Offers many products, which might confuse or overwhelm borrowers.
- Several click-throughs required for personalized rates.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
3.5%
Pros
- Offers digital income, asset and employment verification.
- Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.
- One of the nation’s most active lenders of FHA and VA loans.
Cons
- Published mortgage rates include up to three points of prepaid interest and fees.
- Does not offer home equity loans or lines of credit.
Summary of Best NJHMFA Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Caliber | borrowers looking to rebuild their credit | 620 | 3% | Read review |
 Fairway | mobile capabilities | N/A | 3% | Read review |
 Guaranteed Rate | government loans | 620 | 3% | Read review |
loanDepot at loanDepot | customer service | 620 | 3.5% | at loanDepot |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Caliber | borrowers looking to rebuild their credit | 620 | 3% | Read review |
Fairway | mobile capabilities | N/A | 3% | Read review |
Guaranteed Rate | government loans | 620 | 3% | Read review |
loanDepot at loanDepot | customer service | 620 | 3.5% | at loanDepot |
» MORE: See the best New Jersey mortgage lenders
More NJHMFA participating mortgage lenders
These lenders are among the highest-volume NJHMFA participating mortgage makers in New Jersey. The lenders have not been reviewed by NerdWallet.
Investors Bank
- Founded in the Short Hills-Millburn area, with 90 years of service to New Jersey and New York.
- Offers mortgages wherever there is a branch presence and has over 150 branch locations.
- Also offers co-op mortgages.
Finance of America
- Offers government-backed loans, such as VA, USDA and FHA.
- An FHA 203(k) loan offers financing for the purchase and improvement of a fixer-upper.
- The application process can begin online.
AnnieMac
- A mobile app connects you with your Realtor and loan officer — and reminds you of important dates.
- You can pre-qualify or complete an application online.
- Specializes in rural loans and a recent winner of the USDA Rural Development Lender of the Year award.
Valley National Bank
- Founded in 1927 and headquartered in Wayne, New Jersey.
- Offers educational resources to assist first-time home buyers.
- Construction loans feature one closing at the beginning of construction.
More from NerdWallet
Last updated on July 2, 2019
Methodology
To recap our selections...
NerdWallet's Best NJHMFA Mortgage Lenders of 2019
- Caliber: Best for borrowers looking to rebuild their credit
- Fairway: Best for mobile capabilities
- Guaranteed Rate: Best for government loans
- loanDepot: Best for customer service
