The New Jersey Housing and Mortgage Finance Agency helps first-time home buyers make one of the biggest moves in their lives with substantial financial assistance. NJHMFA programs include down payment and closing costs assistance with forgivable loans — and that’s just about the closest you can get to free money.
Participating lenders will talk you through the qualification details and get your loan application underway. But rather than having you wade through the list of over 40 NJHMFA-approved lenders yourself to find the right one, NerdWallet has identified the highest-rated participating lenders we’ve reviewed, as well as some of the most popular mortgage lenders in the state.
Best NJHMFA mortgage lenders
These lenders excel at products and services that are among the highest in demand with borrowers.
- A “Fresh Start” program helps borrowers with a previous foreclosure or short sale get a loan.
- No waiting period required if you’ve recently declared bankruptcy.
- Minimum credit score 580.
- Caliber Home Loans review
- A mobile app speeds the loan process, with closings as fast as 10 days.
- Using the app, you can apply for a loan in under 10 minutes.
- Nine branch locations in New Jersey.
- Fairway Independent Mortgage review
- Offers all government-backed home loans.
- Securely upload and digitally sign loan documents.
- No need to speak with a human, unless you want to.
- Guaranteed Rate review
- Well-rated for low customer complaint volume, according to NerdWallet analysis.
- Eight affiliated loan stores in New Jersey for borrowers who appreciate face-to-face service.
- Though considered a nonbank lender, offers a loan lineup that rivals banks.
- loanDepot review
» 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.
- 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.
- 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.
- 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.
- 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.
Top NJHMFA mortgage lenders: summary
- Best for borrowers looking to rebuild their credit: Caliber Home Loans
- Best for mobile capabilities: Fairway Independent Mortgage
- Best for government loans: Guaranteed Rate
- Best for customer service: LoanDepot
- High-volume NJHMFA participating lender: Investors Bank
- High-volume NJHMFA participating lender: Finance of America
- High-volume NJHMFA participating lender: AnnieMac
- High-volume NJHMFA participating lender: Valley National Bank
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