The Best Mortgage Lenders in Englewood, NJ
Compare verified mortgage lenders serving Englewood, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Englewood
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a top-rated lender with a strong local presence in Bergen County, serving Englewood residents with personalized service and competitive rates. They are renowned for their extensive loan options, including specialized programs for first-time homebuyers and jumbo loans, and have consistently high customer satisfaction ratings due to their efficient processing and dedicated local team.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly reputable national lender with a significant footprint in New Jersey, offering Englewood clients innovative digital tools and competitive mortgage solutions. They excel in providing a seamless online experience combined with local expert support, and are praised for their transparency, low rates, and wide array of loan products, making them a favorite for both purchase and refinance transactions.
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LoanDepot
loanDepot, LLC
loanDepot is a leading mortgage lender known for its technology-driven approach and strong customer service, serving the Englewood area with a variety of flexible loan options. They offer competitive rates and a streamlined application process, backed by years of experience and positive reviews for their responsiveness and ability to handle complex mortgage scenarios, including jumbo loans and refinances.
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Frequently Asked Questions
Common questions about mortgage lending in Englewood, NJ
Are there any first-time homebuyer programs specific to Englewood, NJ that can help with down payment or closing costs?
Yes, Englewood homebuyers can access the New Jersey Housing and Mortgage Finance Agency (NJHMFA) programs, which offer competitive rates and down payment assistance. Additionally, the City of Englewood itself may offer local affordable housing initiatives or property tax abatements for qualifying buyers in certain developments, so it's crucial to check with the city's housing division for the most current local opportunities.
How do property taxes in Englewood impact my mortgage qualification and monthly payment?
Englewood has notably high property taxes, which are a significant component of your monthly escrow payment. Lenders will factor these taxes into your debt-to-income (DTI) ratio, potentially reducing the loan amount you qualify for. It's essential to get an accurate tax estimate early in your search, as taxes can add $1,000 or more to your monthly payment on a median-priced home.
What is the typical timeline for mortgage approval and closing on a home in Englewood's competitive market?
Given Englewood's desirable location and competitive housing market, a swift and strong mortgage pre-approval is critical. From contract to closing, expect a timeline of 45-60 days. Working with a local lender familiar with North Jersey appraisals and title work can help avoid delays, which is important when sellers are comparing multiple offers.
Are jumbo loans common in Englewood, and do they have different requirements?
Yes, due to higher home prices, jumbo loans (exceeding $1,149,825 in 2024 for Bergen County) are very common in Englewood. These loans typically require stronger financial profiles, including higher credit scores (often 700+), larger down payments (usually 20-25% minimum), and more extensive reserve requirements (6-12 months of payments) compared to conforming loans.
Does Englewood's flood zone mapping affect my mortgage process and insurance costs?
Yes, parts of Englewood, especially near the Overpeck Creek, are in designated flood zones. Your lender will require a flood certification, and if the home is in a Special Flood Hazard Area (SFHA), you must purchase flood insurance as a condition of the loan. This can add a substantial, mandatory annual cost ($1,000-$3,000+) that must be included in your monthly escrow calculation.
Nearby Cities
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Why Choose a Mortgage Lender in Englewood?
Local Market Knowledge
Lenders who understand Englewood'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 Englewood and get competitive rates on your home loan.