The Best Mortgage Lenders in Englewood Cliffs, NJ
Compare verified mortgage lenders serving Englewood Cliffs, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Englewood Cliffs
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 Cliffs residents with exceptional customer service and competitive rates. Founded in 2003, they have over 20 years of experience and are highly praised for their personalized approach, wide range of loan options, and efficiency in processing. Their high ratings and numerous positive reviews highlight their reliability and expertise in handling various mortgage needs, from first-time homebuyers to refinancing.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with a robust local office in Fort Lee, providing seamless service to Englewood Cliffs homebuyers. Established in 2000, they combine advanced digital tools with personalized support to offer competitive rates and transparent processes. Their high customer satisfaction scores and extensive review count reflect their commitment to excellence, making them a trusted choice for conventional, government, and jumbo loans in the area.
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New American Funding
New American Funding, LLC
New American Funding is a highly regarded lender known for its inclusive lending practices and strong community focus in New Jersey, including Englewood Cliffs. Founded in 2003, they offer a diverse portfolio of loan products and are celebrated for their customer-centric approach, helping borrowers with unique financial situations. Their solid reputation, competitive rates, and high review counts demonstrate their reliability and dedication to providing exceptional mortgage solutions across the region.
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Frequently Asked Questions
Common questions about mortgage lending in Englewood Cliffs, NJ
What are the typical down payment requirements for a home in Englewood Cliffs, given its high property values?
Due to the borough's high median home prices, often exceeding $1 million, conventional loans typically require a 20% down payment to avoid private mortgage insurance (PMI). For a jumbo loan, which is common here, lenders may require 10-20% down, and sometimes more, depending on your financial profile and the exact loan amount exceeding the conforming limit.
Are there any local or county-specific first-time homebuyer programs available in Englewood Cliffs?
While Englewood Cliffs itself does not offer a municipal program, Bergen County provides the "Homes for Homeowners" program, which offers down payment and closing cost assistance to eligible first-time buyers. Additionally, New Jersey's statewide "NJHMFA" programs, like the First-Time Homebuyer Mortgage Program, are accessible to Englewood Cliffs buyers who meet income and purchase price limits, which can be challenging given the local market.
How do property taxes in Englewood Cliffs impact my mortgage qualification and monthly payment?
Englewood Cliffs has notably high property taxes, which are escrowed and included in your monthly mortgage payment. Lenders will carefully calculate your debt-to-income ratio including this significant tax burden, which can reduce the loan amount you qualify for. It's crucial to get a precise tax estimate when budgeting, as taxes can add $1,500 or more to your monthly payment on a median-priced home.
Is a jumbo loan common for mortgages in Englewood Cliffs, and what are the specific requirements?
Yes, jumbo loans are extremely common in Englewood Cliffs as most home prices exceed the conforming loan limit (currently $1,149,825 for Bergen County). Requirements are stricter than for conventional loans, often requiring excellent credit (FICO scores of 740+), lower debt-to-income ratios, substantial cash reserves (often 6-12 months of payments), and thorough income documentation.
What local lenders or banks are particularly experienced with the unique Englewood Cliffs real estate market?
Local lenders familiar with Bergen County's high-value market are advantageous. Institutions like Valley National Bank (headquartered nearby), BCB Community Bank, and local credit unions like Affinity Federal Credit Union have deep experience with jumbo loans and the specific appraisal complexities of Englewood Cliffs properties. National banks with strong jumbo departments also actively lend in the area.
Nearby Cities
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Why Choose a Mortgage Lender in Englewood Cliffs?
Local Market Knowledge
Lenders who understand Englewood Cliffs'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 Cliffs and get competitive rates on your home loan.