The Best Mortgage Lenders in Hackensack, NJ
Compare verified mortgage lenders serving Hackensack, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hackensack
Featured Mortgage Lenders
Michael Kessler
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Hackensack branch, led by experienced loan officer Michael Kessler, stands out as one of the highest-rated mortgage lenders in Bergen County. With exceptional 4.9-star ratings across multiple platforms, this local branch combines the resources of a national lender with personalized service. They specialize in guiding first-time homebuyers through the complex New Jersey market while offering competitive rates on conventional, FHA, and VA loans. Their strong community presence and extensive experience with Northern New Jersey real estate transactions make them a top choice for Hackensack residents.
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Michael G. Brusco
Affinity Federal Credit Union
Affinity Federal Credit Union, while headquartered in nearby Rockaway, serves the entire Hackensack area with exceptional mortgage services and consistently earns 4.8-star ratings for their customer-centric approach. As New Jersey's largest credit union, they offer competitive rates and personalized service that often surpasses traditional banks. Their mortgage team specializes in both purchase and refinance loans with particular expertise in helping members navigate the competitive North Jersey housing market. With decades of community banking experience and a member-owned structure, they provide exceptional value and service to Hackensack homebuyers.
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David Lortie
Guaranteed Rate
Guaranteed Rate's Englewood Cliffs office, just minutes from Hackensack, features top-producing loan officer David Lortie with impressive 4.7-star ratings and extensive experience serving Bergen County. This nationally recognized mortgage lender combines innovative digital mortgage technology with local expertise, offering some of the most competitive rates in the region. They excel at streamlining the mortgage process with their digital platform while maintaining personalized service for complex jumbo loans and unique financial situations. Their strong presence in Northern New Jersey and reputation for efficient closings make them a preferred choice for Hackensack area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Hackensack, NJ
Are there any special first-time homebuyer programs available specifically for Hackensack, NJ?
Yes, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers statewide programs like the First-Time Homebuyer Mortgage Program and the Down Payment Assistance Program, which are accessible to Hackensack residents. Additionally, Bergen County sometimes has local initiatives, and it's wise to check with Hackensack's Urban Enterprise Zone for potential incentives aimed at revitalizing specific neighborhoods.
How do property taxes in Hackensack impact my mortgage qualification and monthly payment?
Hackensack has notably high property taxes, with an effective tax rate of approximately 3.8%, which is above the national and state averages. Lenders will include your estimated monthly tax escrow as part of your total monthly debt obligation, which can significantly affect your debt-to-income ratio and the loan amount you qualify for. It's crucial to budget for this substantial recurring cost.
What is a typical down payment requirement for a condo in Hackensack versus a single-family home?
For a conventional loan, a 20% down payment is standard for a single-family home in Hackensack to avoid private mortgage insurance (PMI). For condominiums, lenders often require a minimum of 10-25% down, depending on the project's approval status with Fannie Mae/Freddie Mac. Some newer downtown developments may have specific financing requirements, so it's important to verify with your lender.
Does Hackensack's location in a FEMA flood zone affect my mortgage process?
Yes, parts of Hackensack near the Hackensack River are in designated flood zones. If your prospective home is in a Special Flood Hazard Area (SFHA), your lender will require you to purchase flood insurance as a condition of the mortgage. This is a mandatory and separate policy from homeowners insurance and will add to your monthly housing costs.
How competitive is the mortgage market in Hackensack, and should I expect to pay above the asking price?
Hackensack's real estate market is competitive, especially for well-priced, updated homes in desirable neighborhoods like the Hillers or near the new downtown developments. While bidding wars are common, they are not universal. To be competitive, you may need to offer above asking, waive certain contingencies cautiously, and secure a strong mortgage pre-approval from a reputable local lender who can guarantee a quick closing.
Nearby Cities
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Why Choose a Mortgage Lender in Hackensack?
Local Market Knowledge
Lenders who understand Hackensack'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 Hackensack and get competitive rates on your home loan.