Best of

Best NJHMFA Mortgage Lenders of 2019

NerdWalletJuly 2, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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.
Read full review
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.
Read full review
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.
Read full review
loanDepot

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.
Read full review

Summary of Best NJHMFA Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Caliber

Caliber

borrowers looking to rebuild their credit

620

3%

Read review
Fairway

Fairway

mobile capabilities

N/A

3%

Read review
Guaranteed Rate

Guaranteed Rate

government loans

620

3%

Read review
loanDepot

loanDepot

at loanDepot

customer service

620

3.5%

at loanDepot

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Caliber

Caliber

borrowers looking to rebuild their credit

620

3%

Read review
Fairway

Fairway

mobile capabilities

N/A

3%

Read review
Guaranteed Rate

Guaranteed Rate

government loans

620

3%

Read review
loanDepot

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

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best NJHMFA Mortgage Lenders of 2019