The Best Mortgage Lenders in Lakewood, NJ
Compare verified mortgage lenders serving Lakewood, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lakewood
Featured Mortgage Lenders
Michael Shalom
CrossCountry Mortgage, LLC
Michael Shalom at CrossCountry Mortgage is one of Lakewood's highest-rated mortgage professionals with nearly two decades of experience serving the local community. Specializing in both purchase and refinance loans, he's particularly skilled at working with first-time homebuyers and the unique needs of Lakewood's diverse population. With exceptional customer service and competitive rates, he maintains a 4.9-star rating across multiple review platforms and is known for his personalized approach to each client's financial situation.
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David Gluck
Guaranteed Rate
David Gluck at Guaranteed Rate brings over a decade of mortgage expertise to Lakewood homebuyers, leveraging Guaranteed Rate's national lending power with local personalized service. Known for his transparent communication and efficient loan processing, he specializes in complex loan scenarios including investment properties and jumbo loans. His 4.8-star rating reflects consistent customer satisfaction, and he's particularly respected for his knowledge of the local Lakewood real estate market dynamics.
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OceanFirst Bank
OceanFirst Bank N.A.
OceanFirst Bank has been serving the Lakewood community for over a century, providing reliable mortgage lending with deep local market knowledge. As a community-focused financial institution, they offer competitive rates and specialized first-time homebuyer programs tailored to New Jersey residents. Their mortgage team includes experienced local loan officers who understand the unique characteristics of the Lakewood housing market. With multiple branches throughout Ocean County, they provide convenient in-person service combined with the stability of an established regional bank.
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Frequently Asked Questions
Common questions about mortgage lending in Lakewood, NJ
Are there any special mortgage programs or grants for first-time homebuyers in Lakewood, NJ?
Yes, Lakewood homebuyers can access statewide New Jersey Housing and Mortgage Finance Agency (NJHMFA) programs, such as the First-Time Homebuyer Mortgage Program and the Down Payment Assistance Program. These programs often offer competitive interest rates and can provide up to $10,000 in down payment assistance, which is particularly helpful given Lakewood's competitive housing market.
How does Lakewood's rapid growth and high demand for housing affect mortgage pre-approval and offers?
Due to Lakewood's fast-paced real estate market, having a strong mortgage pre-approval from a reputable local lender is crucial to making a competitive offer. Sellers often prioritize buyers with solid pre-approvals, and you may need to be prepared for bidding wars, which sometimes require appraisal gap coverage to strengthen your offer.
What should I know about property taxes in Lakewood when calculating my monthly mortgage payment?
Lakewood has a property tax rate that is above the national average, which significantly impacts your total monthly payment. When budgeting for your mortgage, factor in an effective tax rate of approximately 2.3%, and ensure your lender calculates escrow payments accurately, as taxes can be reassessed upon sale.
Are there specific lenders in Lakewood familiar with the unique needs of the local community?
Yes, several local banks and credit unions in Ocean County have deep experience with Lakewood's specific market dynamics, including understanding the needs of large families and community-based lending. Working with these lenders can provide more personalized service and familiarity with local appraisal processes.
What is the typical down payment required for a conventional mortgage on a single-family home in Lakewood?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Lakewood successfully purchase homes with down payments as low as 3-5% for conventional loans, especially first-time buyers. However, a higher down payment can make your offer more competitive in this high-demand market.
Why Choose a Mortgage Lender in Lakewood?
Local Market Knowledge
Lenders who understand Lakewood'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 Lakewood and get competitive rates on your home loan.