9 Best New Jersey Mortgage Lenders of 2022
Here are some of the best NJ mortgage lenders, whether you're a first-time home buyer, a refinancer or a borrower with imperfect credit.
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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 NJ 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.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
9 Best New Jersey Mortgage Lenders of 2022
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
 New American Funding: NMLS#6606 Top 3 most visited 🏆 Learn more at New American Funding | 580 | N/A | Top 3 most visited 🏆 Learn more at New American Funding | |
 Rocket Mortgage, LLC: NMLS#3030 Top 3 most visited 🏆 Learn more at Rocket Mortgage, LLC | 620 | 1% | Top 3 most visited 🏆 Learn more at Rocket Mortgage, LLC | |
580 | 3% | Learn more at Rate | ||
 loanDepot: NMLS#174457 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 PNC Bank: NMLS#446303 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Bank of America: NMLS#399802 Compare More Lenders on NerdWallet | 660 | 5% | Compare More Lenders on NerdWallet | |
 Citibank: NMLS#412915 Compare More Lenders on NerdWallet | N/A | 3% | Compare More Lenders on NerdWallet | |
 Carrington: NMLS#2600 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Chase: NMLS#399798 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet |
Last updated on January 6, 2022
Frequently asked questions
The credit score you need to buy a house in New Jersey depends on the type of mortgage you're planning to use. Home loans backed by the Federal Housing Administration tend to have the lowest required minimum credit scores, but individual lenders can ask for higher scores. For most conventional loans, you'll need a credit score of at least 620.
The median monthly housing payment for New Jersey homeowners was $2,413 in 2019, according to the U.S. Census Bureau’s American Community Survey. That number includes principal, interest, insurance, taxes, utility costs and homeowners association or other fees. You can use a mortgage calculator for NJ to get a more specific estimate of what your monthly mortgage payments would be.
Your down payment amount depends less on where you live, and more on the type of mortgage you're using and how your offer shapes up. With a conventional loan, you can make a down payment that's as low as 3%. However, in a competitive housing market, it may help your offer stand out if you can make a down payment that's beyond the bare minimum. If you need down payment assistance, you may want to look into New Jersey first-time home buyer programs.
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.
NerdWallet's Best New Jersey Mortgage Lenders of 2022
- New American Funding: Best for weaker credit
- Rocket Mortgage, LLC: Best for online lender
- Rate: Best for refinancing
- loanDepot: Best for first-time home buyers & online lenders
- PNC Bank: Best for face-to-face experience
- Bank of America: Best for face-to-face experience
- Citibank: Best for first-time home buyers
- Carrington: Best for weaker credit
- Chase: Best for refinancing
