The Best Mortgage Lenders in Princeton, NJ
Compare verified mortgage lenders serving Princeton, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Princeton
Featured Mortgage Lenders
Princeton Home Mortgage
Princeton Home Mortgage
Princeton Home Mortgage is a locally owned and operated mortgage brokerage with deep roots in the Princeton community. They are consistently rated among the top mortgage lenders in Mercer County, known for their personalized service and competitive rates. Their team of experienced loan officers specializes in navigating the unique Princeton real estate market, including high-value properties and competitive purchase scenarios. They excel at complex loan situations and provide white-glove service from application to closing.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC - Lawrenceville Branch
CrossCountry Mortgage's Lawrenceville branch serves the Princeton area with excellent customer satisfaction ratings and comprehensive loan programs. As a direct lender with strong local presence, they offer competitive pricing and efficient processing. Their team specializes in both purchase and refinance transactions, with particular expertise in jumbo loans that are common in Princeton's luxury market. They are known for their responsive communication and ability to meet tight deadlines in competitive real estate situations.
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Guaranteed Rate
Guaranteed Rate, Inc. - Princeton Office
Guaranteed Rate's Princeton office brings national lending power with local expertise, serving the Princeton market with innovative digital mortgage solutions and competitive rates. They are particularly strong in jumbo and conventional lending, which are essential for Princeton's diverse housing market. Their digital platform allows for streamlined application processes while maintaining personalized service through local loan officers. They have built a strong reputation for reliability and closing loans on time, which is critical in Princeton's competitive real estate environment.
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Frequently Asked Questions
Common questions about mortgage lending in Princeton, NJ
Are mortgage rates in Princeton, NJ typically higher than the national average?
Yes, mortgage rates in Princeton and the broader Mercer County area can be slightly above the national average due to the high cost of living and competitive real estate market. However, securing a competitive rate is highly dependent on your credit profile and down payment. Working with a local lender familiar with the Princeton market is key to finding the best available terms.
What local down payment assistance programs are available for first-time homebuyers in Princeton?
While Princeton itself does not offer a city-specific program, New Jersey's statewide programs, like the NJHMFA Down Payment Assistance Program and the "First-Time Homebuyer Mortgage Program," are actively used by Princeton buyers. These programs offer competitive interest rates and forgivable loans for down payment and closing costs, subject to income and purchase price limits that are adjusted for Mercer County.
How does Princeton's high property tax rate affect my mortgage qualification and payment?
Princeton has some of the highest property tax rates in New Jersey, which significantly impacts your total monthly payment (PITI). Lenders will include this high tax escrow when calculating your debt-to-income ratio (DTI), which may reduce the loan amount you qualify for compared to other areas. It's crucial to budget for this substantial and recurring expense beyond just the mortgage principal and interest.
Are jumbo loans common in the Princeton mortgage market?
Extremely common. Given the high median home price in Princeton, which far exceeds the conventional loan limits set by the FHFA, jumbo loans are a standard product. Local lenders are very experienced with these loans, but they often require stronger credit scores (typically 700+), larger down payments (often 20% or more), and more extensive reserve requirements.
What should I know about getting a mortgage for a historic home in Princeton?
Financing a historic home, especially in neighborhoods like the Western Section or along Library Place, requires special consideration. Lenders may order a more rigorous appraisal and could have specific requirements for properties listed on local or national historic registers. It's essential to work with a lender experienced in historic properties to navigate potential insurance mandates and ensure the home's unique characteristics are properly valued.
Nearby Cities
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Why Choose a Mortgage Lender in Princeton?
Local Market Knowledge
Lenders who understand Princeton'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 Princeton and get competitive rates on your home loan.