The Best Mortgage Lenders in Shiloh, NJ
Compare verified mortgage lenders serving Shiloh, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Shiloh
Featured Mortgage Lenders
1st Colonial Community Bank
1st Colonial Community Bank
1st Colonial Community Bank is a highly-rated local institution deeply rooted in South Jersey, serving Cumberland County and surrounding areas like Shiloh for over two decades. They are renowned for personalized customer service, competitive mortgage rates, and strong community involvement. With excellent customer reviews highlighting their responsive loan officers and efficient processing, they specialize in a wide range of loan products tailored to first-time homebuyers and refinancers alike. Their long-standing reputation and local expertise make them a top choice for residents seeking reliable and trustworthy mortgage solutions.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in South Jersey, including service to Shiloh. They are celebrated for their innovative digital mortgage platform, which streamlines the application process and offers competitive rates. With high customer satisfaction scores, they provide expert guidance from local loan officers and a wide array of loan options. Their commitment to transparency, speed, and customer care has earned them numerous industry awards and positive reviews, making them a preferred lender for homebuyers seeking efficiency and reliability.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly-regarded mortgage lender with a significant footprint in New Jersey, actively serving the Shiloh area. They are known for their customer-centric approach, offering flexible loan products and educational resources for homebuyers. With a reputation for excellent communication and competitive rates, they have built trust through years of reliable service and positive client feedback. Their local branch staff are experienced in navigating the South Jersey market, ensuring a smooth mortgage experience from application to closing, which contributes to their high ratings and strong community presence.
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Frequently Asked Questions
Common questions about mortgage lending in Shiloh, NJ
What are the typical down payment requirements for homes in Shiloh, NJ, given its rural setting?
In Shiloh's more affordable market compared to other parts of New Jersey, many conventional loans require a 5-10% down payment. However, for the many older or historic homes in the area, lenders may require a slightly higher down payment or specific inspections due to potential repair needs. USDA loans, which require 0% down, are also a popular option here due to the area's eligible rural designation.
Are there any special mortgage programs for first-time homebuyers in Cumberland County that apply to Shiloh?
Yes, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers first-time homebuyer programs with competitive interest rates and down payment assistance, which are accessible in Shiloh. Additionally, the Cumberland County Home Improvement Program, while not a mortgage, can be paired with a purchase to finance necessary repairs on older properties common in the area.
How do property tax rates in Shiloh impact my mortgage payments and qualification?
Shiloh Borough has its own property tax rate, which is a significant component of your monthly escrow payment. Lenders will factor Shiloh's current millage rate (approximately 2.5% to 3% of assessed value) into your debt-to-income ratio. It's crucial to get an accurate tax estimate, as higher taxes can affect how much home you qualify for compared to other regions.
What should I know about getting a mortgage for a historic home in Shiloh?
Financing a historic home in Shiloh may require a specialized appraisal that understands the value of historic features and any preservation restrictions. Some lenders may be hesitant with older electrical, plumbing, or roofing systems, so you might need a renovation loan like the FHA 203(k) to roll repair costs into your mortgage. Always check if the property is on local or national historic registers, as this can affect insurance and loan options.
Are USDA loans a good option in Shiloh, and what are the property eligibility requirements?
USDA loans are an excellent zero-down-payment option for Shiloh, as the entire area is designated eligible for the USDA Rural Development program. To qualify, the property must be in the eligible area (Shiloh qualifies), meet certain safety and condition standards, and be your primary residence. This program is particularly attractive given Shiloh's rural character and can make homeownership more accessible.
Nearby Cities
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Why Choose a Mortgage Lender in Shiloh?
Local Market Knowledge
Lenders who understand Shiloh'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 Shiloh and get competitive rates on your home loan.