The Best Mortgage Lenders in Union, NJ
Compare verified mortgage lenders serving Union, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Union
Featured Mortgage Lenders
CrossCountry Mortgage, LLC
CrossCountry Mortgage, LLC - Union
CrossCountry Mortgage's Union office is consistently rated as one of the top mortgage lenders in the area, known for their personalized service and competitive rates. With over two decades of experience, they specialize in guiding clients through the entire mortgage process with transparency and expertise. Their local team has deep knowledge of Union County's real estate market and offers a comprehensive range of loan products with exceptional customer service ratings.
Loan Types:
NRL Mortgage
NRL Mortgage - Summit
Located just minutes from Union in Summit, NRL Mortgage has built an outstanding reputation for their responsive service and competitive loan options. They consistently receive top marks for their efficient processing and clear communication throughout the mortgage journey. The company specializes in both purchase and refinance transactions, with particular expertise in serving Union County homebuyers seeking conventional and government-backed loans.
Loan Types:
Guaranteed Rate
Guaranteed Rate - Springfield
Guaranteed Rate's Springfield office serves the Union area with a strong focus on digital mortgage solutions and competitive pricing. As one of the largest retail mortgage lenders in the country, they bring national resources combined with local expertise. Their team in Springfield has extensive experience with Union County's housing market and is known for their streamlined application process and excellent customer service ratings among local homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Union, NJ
Are there any first-time homebuyer assistance programs specific to Union, NJ?
Yes, Union homebuyers can access the New Jersey Housing and Mortgage Finance Agency (NJHMFA) programs, which offer competitive interest rates and down payment assistance. Additionally, Union County itself may have local grants or programs, so it's wise to check with the Union Township offices or a local mortgage lender familiar with these resources.
How does Union's property tax rate affect my mortgage qualification and payments?
Union's property tax rate is a significant factor, as it is higher than the national average. Lenders will include this high tax burden in your debt-to-income (DTI) ratio calculation, which can reduce the loan amount you qualify for. Your monthly mortgage payment will also include a substantial escrow portion for taxes, so budget accordingly.
What are typical down payment requirements for homes in Union's competitive market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Union's market use conventional loans with 3-5% down or FHA loans with 3.5% down to compete. Given the competitive nature of the market, a stronger down payment can make your offer more attractive to sellers.
Are there specific mortgage considerations for buying a multi-family home in Union?
Yes, Union has many two-to-four family homes. Financing these requires a multi-unit mortgage, and lenders will consider potential rental income from the other units to help you qualify. Interest rates and down payment requirements (often 15-25%) are typically higher than for single-family homes.
How do local closing costs in Union, NJ, compare to other areas?
Closing costs in Union are generally in line with New Jersey averages, which are among the highest in the nation. You should budget approximately 2-5% of the home's purchase price to cover state-specific transfer taxes, high attorney fees, and title insurance premiums unique to New Jersey.
Why Choose a Mortgage Lender in Union?
Local Market Knowledge
Lenders who understand Union'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 Union and get competitive rates on your home loan.