The Best Mortgage Lenders in Delaware, NJ
Compare verified mortgage lenders serving Delaware, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Delaware
Featured Mortgage Lenders
TD Bank Mortgage
TD Bank, N.A.
TD Bank stands out as one of the most prominent mortgage lenders in the Delaware Valley region with extensive physical branches throughout Delaware and New Jersey. They offer competitive rates and a streamlined digital application process while maintaining local branch support. Their "TD Bank Mortgage" division receives consistently high marks for responsive service, flexible loan options, and local underwriting expertise. As an established FDIC-insured institution with deep roots in the Northeast, they provide exceptional stability and comprehensive mortgage solutions for both states.
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Fulton Mortgage Company
Fulton Bank, N.A.
Fulton Bank operates a dedicated mortgage division with strong presence throughout Delaware and New Jersey, offering personalized service through local loan officers. They excel in providing competitive conventional and government-backed loans with local decision-making authority. Customers consistently praise their responsive communication, transparent process, and ability to handle complex scenarios. With over 140 years of banking experience in the region, Fulton Mortgage combines the stability of an established institution with the flexibility of a community-focused lender.
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Newrez Mortgage
Newrez LLC
Newrez maintains a significant operational presence in Wilmington, Delaware, serving both Delaware and New Jersey markets with comprehensive mortgage solutions. They receive high marks for competitive rates, efficient processing, and strong refinancing expertise. As a top-10 mortgage lender nationally with local offices, they combine scale advantages with regional market knowledge. Their digital mortgage platform and extensive loan product menu make them particularly attractive to tech-savvy borrowers while maintaining personalized service through local mortgage consultants.
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Frequently Asked Questions
Common questions about mortgage lending in Delaware, NJ
What are the best first-time homebuyer programs available in Delaware, NJ?
Delaware offers excellent state-specific programs through the Delaware State Housing Authority (DSHA). The most popular is the DSHA Preferred Plus program, which provides competitive 30-year fixed-rate mortgages, down payment assistance up to 4% of the loan amount, and potential closing cost assistance. First-time buyers in Delaware should also explore the Homeownership Loan Program, which offers below-market interest rates to qualified applicants.
How do property taxes in Delaware, NJ affect my mortgage payments and affordability?
Delaware is known for having some of the lowest property tax rates in the nation, with no county-level property taxes and only school district and municipal taxes. This significantly impacts your monthly mortgage payment, making homeownership more affordable compared to neighboring states like New Jersey or Pennsylvania. When calculating your mortgage payment in Delaware, you'll find the property tax portion is substantially lower, which can help you qualify for a higher loan amount.
Are there any special mortgage considerations for buying in Delaware's coastal areas like Bethany Beach or Rehoboth?
Yes, purchasing in Delaware's coastal resort areas requires special consideration. Lenders may require additional flood insurance beyond standard homeowners insurance, which can affect your monthly payment. Additionally, if you're purchasing a second home or investment property in these areas (common in coastal Delaware), you may face stricter lending requirements, higher down payment expectations (often 20-30%), and slightly higher interest rates compared to primary residence mortgages.
What is the typical down payment requirement for conventional mortgages in Delaware, and are there low-down-payment options?
While 20% down is traditional for conventional loans to avoid private mortgage insurance (PMI), many Delaware buyers utilize programs with lower requirements. Conventional loans can go as low as 3% down for qualified first-time buyers, and FHA loans require just 3.5% down. The DSHA programs mentioned earlier can help cover these down payments. For veterans, VA loans offer 0% down options, which is valuable given Delaware's military-friendly communities near Dover Air Force Base.
How does Delaware's lack of sales tax impact the mortgage closing process and costs?
Delaware's zero sales tax status provides significant savings during home purchasing that indirectly benefits your mortgage. While you'll still pay standard closing costs (title insurance, appraisal, recording fees), you avoid the substantial transfer taxes that many states charge, which can be thousands of dollars. This means you need less cash at closing, potentially freeing up funds for a larger down payment or reducing the amount you need to finance. However, you will pay a modest documentary stamp tax, which is typically split between buyer and seller.
Nearby Cities
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Why Choose a Mortgage Lender in Delaware?
Local Market Knowledge
Lenders who understand Delaware's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in New Jersey.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Delaware and get competitive rates on your home loan.