The Best Mortgage Lenders in Hillsborough, NJ
Compare verified mortgage lenders serving Hillsborough, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hillsborough
Featured Mortgage Lenders
Michael DeFalco
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Bridgewater location, just minutes from Hillsborough, is highly rated for exceptional customer service and competitive rates. Senior Loan Officer Michael DeFalco brings 15 years of local mortgage expertise, specializing in first-time homebuyer programs and streamlined refinancing. The company is known for its personalized approach and extensive loan product portfolio, serving the entire Somerset County area with a strong reputation for closing loans on time.
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Anthony F. Fiore
NJ Lenders Corp.
NJ Lenders Corp. has been serving Central New Jersey communities including Hillsborough for over two decades. As a local mortgage brokerage, they offer personalized service and access to multiple lenders for competitive rate shopping. Specializing in complex loan scenarios and investment properties, they maintain a 4.8-star rating for their responsive communication and expertise in New Jersey's unique real estate market. Their team includes experienced loan officers who understand local property values and market conditions.
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Regional Manager
Newrez LLC (formerly Caliber Home Loans)
Newrez maintains a strong physical presence in Somerset, directly serving the Hillsborough area with a comprehensive range of mortgage products. As one of the nation's largest mortgage lenders with local offices, they combine the efficiency of a national company with personalized local service. They excel in digital mortgage processing while maintaining local underwriting support, offering competitive rates particularly for jumbo loans and refinancing. Their 4.7-star rating reflects consistent customer satisfaction across thousands of New Jersey transactions.
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Frequently Asked Questions
Common questions about mortgage lending in Hillsborough, NJ
Are there any special first-time homebuyer programs available specifically for Hillsborough, NJ residents?
While there are no programs exclusive to Hillsborough, as a New Jersey resident, you can access statewide programs like the NJHMFA's First-Time Homebuyer Mortgage Program, which offers competitive interest rates and down payment assistance. It's also wise to check with local credit unions or banks in Somerset County, as they may offer special promotions or grants for buyers in the area.
How do property taxes in Hillsborough impact my mortgage qualification and monthly payment?
Hillsborough has notably high property taxes, with an effective tax rate around 2.4%, which is above the national and state averages. Lenders will factor this significant tax burden into your debt-to-income ratio, potentially reducing the loan amount you qualify for. Your monthly mortgage payment will include a substantial escrow portion for taxes, so budget accordingly.
What are typical mortgage rates offered by local lenders in Hillsborough compared to national averages?
Mortgage rates in Hillsborough are generally aligned with national averages, as they are driven by broader economic factors. However, working with a local lender familiar with the Somerset County market can sometimes provide more competitive terms or specialized service. It's always recommended to get quotes from both local banks/credit unions and national lenders to ensure you secure the best rate.
Does Hillsborough's location in the NYC metro area affect jumbo loan requirements?
Yes, due to its proximity to the high-cost New York City metro area, the conforming loan limit for Somerset County is elevated. For 2024, the limit is $766,550, allowing many buyers to avoid jumbo loans. For loans above this limit, jumbo mortgage requirements in Hillsborough are often stringent, requiring excellent credit, lower debt-to-income ratios, and significant reserves.
Are there specific mortgage considerations for buying in one of Hillsborough's many planned communities or adult communities?
Yes, if you're buying in a community with a Homeowners Association (HOA), like the popular Royce Brook or the adult community of Hillsborough Knolls, lenders will factor the HOA fees into your debt-to-income ratio. For certain condo or co-op purchases within these communities, the project itself must be approved by the lender (Fannie Mae/Freddie Mac), which can affect loan eligibility and terms.
Nearby Cities
Explore mortgage lenders in cities near Hillsborough, NJ
Why Choose a Mortgage Lender in Hillsborough?
Local Market Knowledge
Lenders who understand Hillsborough'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 Hillsborough and get competitive rates on your home loan.