The Best Mortgage Lenders in Riverside, NJ
Compare verified mortgage lenders serving Riverside, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Riverside
Featured Mortgage Lenders
Michael DiPietro
CrossCountry Mortgage
CrossCountry Mortgage's Cherry Hill office serves the Riverside area with exceptional customer service and competitive rates. Led by experienced loan officer Michael DiPietro, this branch maintains a stellar 4.9-star rating across multiple review platforms. They specialize in guiding borrowers through the entire mortgage process with personalized attention, offering a comprehensive range of loan products including specialized programs for first-time homebuyers and veterans. Their strong local presence in Burlington County and extensive industry experience make them a top choice for Riverside residents.
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Member Services
Affinity Federal Credit Union
Affinity Federal Credit Union, while headquartered in Basking Ridge, serves members throughout New Jersey including Riverside residents. With an 85-year history and outstanding 4.8-star rating, they offer competitive mortgage rates and exceptional member service. Their digital mortgage application process is highly rated for convenience, and they provide personalized guidance through every step. As a credit union, they often offer more favorable terms and lower fees than traditional banks, with particular strength in first-time homebuyer programs and construction loans serving the Burlington County area.
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Mortgage Department
Newrez LLC
Newrez (formerly New Penn Financial) maintains a strong presence in the Philadelphia metro area serving Riverside, NJ with a 4.7-star rating and extensive experience. They offer competitive rates and a streamlined digital mortgage experience while providing access to experienced loan officers. Specializing in both purchase and refinance transactions, they have particular expertise in jumbo loans and investment property financing. Their efficient processing and strong customer service track record make them a reliable choice for Burlington County homeowners, with many positive reviews highlighting their responsive communication and smooth closing processes.
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Frequently Asked Questions
Common questions about mortgage lending in Riverside, NJ
Are there any special mortgage programs for first-time homebuyers in Riverside, NJ?
Yes, Riverside homebuyers can access New Jersey's statewide programs like the NJHMFA Down Payment Assistance Program, which offers up to $10,000 as a forgivable loan. Additionally, the NJHMFA First-Time Homebuyer Mortgage Program provides competitive fixed-rate loans, often with below-market interest rates, which is particularly helpful in Burlington County's competitive market.
How does Riverside's location in Burlington County affect property taxes and mortgage qualification?
Burlington County has property tax rates that are generally above the national average, which is a key factor in Riverside. Lenders will calculate your debt-to-income ratio including these taxes, so it's crucial to get an accurate tax estimate when determining how much house you can afford, as high taxes can significantly impact your monthly payment.
What is a common challenge for getting a mortgage on older homes in Riverside's historic neighborhoods?
Many homes in Riverside's established neighborhoods were built decades ago and may require significant updates. A common hurdle is a low appraisal if the home lacks modern systems, which can affect loan approval. Buyers should consider an FHA 203(k) renovation loan or a conventional HomeStyle loan to finance both the purchase and necessary repairs.
Are there local credit unions or banks in the Riverside area that offer competitive mortgage rates or special programs?
Yes, working with local institutions like Affinity Federal Credit Union or Columbia Bank can be advantageous. These lenders often have specific knowledge of the Riverside and Burlington County market and may offer relationship discounts or special portfolio loan products that larger national lenders do not provide.
How does the proximity to Philadelphia and major transit routes like Route 130 influence mortgage lending and property values in Riverside?
Riverside's commuter appeal to Philadelphia and access to major highways like I-295 supports stable property values, which lenders view favorably. This can mean more flexible loan-to-value ratios. However, lenders may also scrutinize noise or traffic impact studies for properties very close to these major roadways during the appraisal process.
Why Choose a Mortgage Lender in Riverside?
Local Market Knowledge
Lenders who understand Riverside'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 Riverside and get competitive rates on your home loan.