The Best Mortgage Lenders in Florence, NJ
Compare verified mortgage lenders serving Florence, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Florence
Featured Mortgage Lenders
Joseph A. Del Rossi
First Home Mortgage
First Home Mortgage is a highly-rated regional mortgage lender with a strong presence in Burlington County. Joseph Del Rossi's team has exceptional customer reviews highlighting their personalized service, competitive rates, and expertise with first-time homebuyer programs. They specialize in navigating complex mortgage scenarios and offer a wide range of loan products with local underwriting and processing support.
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Michael DiLeo
Trident Mortgage Company
Trident Mortgage Company has established itself as a top-performing mortgage lender in the South Jersey region with multiple offices serving Burlington County. They receive consistently excellent reviews for their responsive service, competitive rates, and smooth closing processes. The Cherry Hill location specifically serves Florence and surrounding communities with expertise in both purchase and refinance transactions.
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Mortgage Department
Freedom Credit Union
Freedom Credit Union serves Burlington County residents including Florence, NJ, and has built an outstanding reputation for mortgage lending with highly competitive rates and exceptional member service. As a credit union, they offer member-focused benefits including lower fees and personalized guidance throughout the mortgage process. Their experienced mortgage team specializes in helping both first-time and experienced homebuyers throughout South Jersey.
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Frequently Asked Questions
Common questions about mortgage lending in Florence, NJ
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Florence, NJ?
Yes, New Jersey offers several statewide programs that are accessible to Florence homebuyers, such as the NJHMFA Down Payment Assistance Program and the First-Time Homebuyer Mortgage Program. These programs can provide low-interest-rate mortgages and forgivable loans for down payment and closing costs, which is particularly helpful given Burlington County's median home prices. It's advisable to work with a lender approved by the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to access these benefits.
How do property taxes in Florence, NJ, impact my mortgage payments and affordability?
Florence Township has a property tax rate that is moderately high, typical for Burlington County. Your lender will roll estimated property taxes into your monthly mortgage escrow payment, significantly affecting your total monthly housing cost. When calculating your budget, it's crucial to factor in these taxes, as they can add several hundred dollars to your monthly payment compared to locations with lower rates, impacting the loan amount you can qualify for.
What types of properties are most common in Florence, and does that affect my loan options?
Florence features a mix of single-family homes, older townhouses, and some newer construction developments, especially near the Route 130 corridor. This variety is generally well-accommodated by conventional, FHA, and VA loans. However, if you're considering a home in one of the older neighborhoods, an FHA 203(k) renovation loan might be a valuable option to finance both purchase and repairs, a common consideration for some of the borough's historic housing stock.
As a commuter town near Philadelphia and Trenton, do lenders in Florence consider potential rental income for a multi-unit property?
Absolutely. Given Florence's location and the presence of some multi-family homes, lenders may allow you to use a portion of projected rental income from a 2-4 unit property to help you qualify for the mortgage. This is subject to standard guidelines, such as a 75% vacancy factor and often requiring a signed lease or comparable rental schedule. This can be a strategic way to increase your purchasing power in this market.
How competitive is the mortgage rate environment in Florence compared to the national average?
Mortgage rates in Florence are primarily driven by national economic trends, so they align closely with national averages. However, your specific rate will depend heavily on your personal financial profile (credit score, debt-to-income ratio) and the lender you choose. Shopping around with local banks, credit unions, and national lenders serving the Burlington County area is key, as even a small difference in rate can have a major impact over the life of a loan in this market.
Why Choose a Mortgage Lender in Florence?
Local Market Knowledge
Lenders who understand Florence'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 Florence and get competitive rates on your home loan.