The Best Mortgage Lenders in Raritan, NJ
Compare verified mortgage lenders serving Raritan, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Raritan
Featured Mortgage Lenders
Michael DeFazio
CrossCountry Mortgage
CrossCountry Mortgage is a highly-rated national lender with a strong local presence in Somerset County, serving Raritan and surrounding communities. Michael DeFazio's Branchburg office maintains exceptional 4.9-star ratings across multiple platforms with numerous reviews praising their responsive service, competitive rates, and smooth closing processes. The company offers comprehensive loan programs including specialized options for first-time homebuyers and has built a reputation for transparent communication throughout the mortgage process.
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Unity Bank
Unity Bank is a well-established New Jersey community bank with deep roots in Hunterdon and Somerset counties, serving Raritan residents with personalized mortgage services. While founded in 1991, their mortgage division has over 25 years of specialized experience. They receive consistent praise for their local decision-making, competitive rates for conventional and construction loans, and long-term relationship banking approach. Their community-focused lending and knowledge of local market conditions make them a top choice for Raritan homebuyers.
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Anthony Laura
NJ Lenders Corp
NJ Lenders Corp is a highly-regarded mortgage brokerage firm located just minutes from Raritan in New Brunswick. With over 20 years of experience serving Central New Jersey, they maintain exceptional 4.8-star ratings for their extensive product access, competitive pricing, and personalized service. As a brokerage, they can shop multiple lenders to find optimal rates and terms for Raritan homebuyers. Their expertise with New Jersey-specific programs and strong relationships with local real estate professionals make them a premier choice for mortgage services in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Raritan, NJ
What are the current average mortgage rates for homebuyers in Raritan, NJ, and how do they compare to state averages?
Mortgage rates in Raritan are generally aligned with New Jersey state averages, which are often slightly above national averages due to higher property taxes and insurance costs. As of recent trends, you can expect rates for a 30-year fixed mortgage to be competitive with surrounding Somerset County. It's crucial to get quotes from local lenders familiar with Raritan's market, as they may offer specific promotions or have insights into the best available products for the area.
Are there any down payment assistance or first-time homebuyer programs specifically for Raritan, NJ, residents?
While Raritan itself does not have a municipal program, residents have access to several powerful state-wide programs. The most notable is the NJHMFA (New Jersey Housing and Mortgage Finance Agency) programs, including the First-Time Homebuyer Mortgage Program and the Down Payment Assistance (DPA) program. These programs offer competitive interest rates and forgivable loans for down payment and closing costs, which are especially valuable in Raritan's market.
How do Raritan's high property taxes affect my mortgage qualification and monthly payment?
Raritan's property taxes are a significant component of your monthly housing payment. In 2023, Raritan's effective tax rate was approximately 2.3%, which is above the national average but typical for Somerset County. Lenders will include your estimated monthly tax escrow when calculating your debt-to-income ratio (DTI). This means the high taxes can reduce the loan amount you qualify for, making it essential to budget accurately for the total PITI (Principal, Interest, Taxes, Insurance) payment.
What should I know about getting a mortgage for a home in Raritan's historic districts or for older homes?
Raritan has many charming older homes, particularly in its historic areas. Securing a mortgage for these properties may require specific considerations. Lenders might order a more thorough appraisal to ensure the home's condition and value meet loan guidelines. For certain historic homes, you may need to explore renovation loans like the FHA 203(k) or Fannie Mae HomeStyle® loan if updates are needed. It's advisable to work with a lender experienced in older home financing in Central New Jersey.
How competitive is the mortgage pre-approval process in Raritan's current real estate market?
Raritan's real estate market remains competitive, making a strong, verified pre-approval letter essential. Sellers and their agents favor buyers who have been thoroughly vetted by a reputable local lender. A pre-approval from a lender familiar with the local market, who can quickly underwrite and close, can give you a significant edge over offers with just a pre-qualification. Given the pace of sales, having your financial documentation ready to go is critical for success.
Why Choose a Mortgage Lender in Raritan?
Local Market Knowledge
Lenders who understand Raritan'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 Raritan and get competitive rates on your home loan.