The Best Mortgage Lenders in Harrison, NJ
Compare verified mortgage lenders serving Harrison, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Harrison
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a top-rated lender with a strong regional presence in New Jersey, known for its personalized service and competitive rates. They excel in handling diverse loan types, including first-time homebuyer programs, and have consistently high customer satisfaction ratings due to their efficient processing and local expertise. Their Paramus office conveniently serves the Harrison area, making them a reliable choice for residents seeking flexible mortgage solutions.
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New American Funding
New American Funding, LLC
New American Funding stands out for its commitment to diversity and community-focused lending, offering tailored mortgage products with competitive rates. They have a reputation for excellent customer service, streamlined online tools, and a dedicated local team that serves the Harrison region. Their high ratings reflect reliability in handling complex loans and providing educational resources for borrowers.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized lender with a strong local footprint in Hoboken, easily accessible to Harrison residents. They are praised for their technology-driven approach, which simplifies the mortgage process, and for offering competitive rates with transparent fees. Their extensive experience and high customer review counts underscore their ability to deliver fast, reliable service and a wide range of loan options.
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Frequently Asked Questions
Common questions about mortgage lending in Harrison, NJ
Are there any first-time homebuyer assistance programs specific to Harrison, NJ?
Yes, Harrison participates in the New Jersey Housing and Mortgage Finance Agency (NJHMFA) programs, which offer first-time buyers competitive interest rates, down payment assistance, and closing cost help. Additionally, the Town of Harrison may offer local grants or property tax abatement programs for qualified buyers purchasing in designated redevelopment areas, so it's crucial to check with the Harrison Office of Economic Development.
How does Harrison's proximity to New York City impact mortgage lending and home values?
Harrison's status as a transit hub with the PATH train creates high demand, often leading to competitive bidding and stronger property value retention, which lenders view favorably. However, it can also mean higher property taxes and insurance costs, which lenders will carefully scrutinize in your debt-to-income ratio during the mortgage approval process.
What should I know about property taxes and insurance when getting a mortgage in Harrison?
Harrison's property taxes are notably high, often between 2.5% to 3% of assessed value, which significantly impacts your total monthly payment and the loan amount you can qualify for. Furthermore, due to its location along the Passaic River, some areas may require flood insurance, which is a mandatory, separate cost that must be included in your mortgage escrow calculation.
Are condos in Harrison's new developments easier or harder to finance?
Financing condos in Harrison's newer buildings is generally straightforward, as most meet Fannie Mae and FHA project approval guidelines due to their recent construction. However, it's essential to verify the project's certification status and the homeowner association's (HOA) financial health, as lenders will review the HOA's budget, reserves, and percentage of owner-occupants before approving a loan.
What are typical down payment requirements for multi-family homes in Harrison, given its many two- and three-family properties?
For owner-occupied two-to-four-unit properties in Harrison, standard down payments are typically 15% for conventional loans and 3.5% for FHA loans. Lenders will require proof of rental income from the other units, which can help you qualify for a higher loan amount, but they will also apply a vacancy factor (usually 25%) when calculating that income.
Why Choose a Mortgage Lender in Harrison?
Local Market Knowledge
Lenders who understand Harrison'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 Harrison and get competitive rates on your home loan.