New Jersey Mortgage Rates

February 12, 2016 09:30 PM Eastern

Refinance rates now in NEWARK, NJ [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30 Year Fixed

Interest Rate
3.250%
APR
3.387%
Monthly Payment
$871
eLEND
30 Year Fixed
Interest Rate
3.250%
APR
3.387%
Monthly Payment
$871
(855) 982-3216 Contact
eLEND
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $871
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $871
Lender Fees $3,398
Lender Credit $0
Total Closing Fees* $3,398
*Other 3rd party fees may apply
eLEND
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About the Lender

eLEND provides residential mortgage financing directly to potential home buyers and existing homeowners through a robust online platform built to simplify the lending process. Our mortgage technology solutions help thousands of families every year achieve their home financing goals. We offer Conventional, FHA, VA, USDA, Jumbo, and Renovation financing programs with exceptional rates and service. A division of American Financial Resources, Inc., eLEND is backed by over 18 years of industry success. Our expert Mortgage Loan Originators will help connect you with the ideal financing solution to achieve your specific goals. Contact us today for a free rate quote or e-Approval.
eLEND
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Lender Reviews

Wade

After giving them papers directly from the IRS , after having to show divorce papers from 14yrs. Ago, having to get an itemized list of whom was filled on my bankruptcy, let's see what else phone numbers of ex employer from two years ago not the same year, personal reference?????please tell me how showing papers off an old divorce is when relevant? What about a bankruptcy that is 8yrs. Old, is it going to end it's been since December 3, 2015

By: Keri (Gibsonton, FL)

very rude

Stephen Pullen contacted us and he was extremely rude. He kept interrupting me and talking over me. Completely uninterested in what our needs were. We tried back in October to use them and no call backs. Very poor customer service

By: karen (Hinesville, GA)

good

Yes, I recommend this lender

Good

By: Arlen (Mukilteo, WA)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank
30 Year Fixed
Interest Rate
3.375%
APR
3.470%
Monthly Payment
$885
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $885
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $885
Lender Fees $2,368
Lender Credit $0
Total Closing Fees* $2,368
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Great First Home Buying Experience!

Yes, I recommend this lender

They were extremely quick to respond after initial inquiry online. I received a phone call and email within an hour after submitting a request for information. They were very knowledgeable every step of the way and helped us meet our early deadline for closing! The website was easy to use to upload all our documents, and the closing company was impressed with the ease of communication and coordination. Great experience for first time home buying!

By: Melissa (Beaver, PA)

Great Experience

Yes, I recommend this lender

I have refinanced many times over the years and Consumer Direct Mortgage stands out above all of the mortgage companies that I have worked with. Everyone that I dealt with was friendly, efficient, and knowledgeable.

By: Dan (Harvard, MA)

Great Company to Use

Yes, I recommend this lender

I just completed two Cash out refinances with ConsumerDirect. I have to say, using ConsumerDirect was a great experience. I've done over a dozen Refinances and home purchases mortgages over the years, using Mortgage Brokers, Big Banks, Small Local Banks and Mortgage companies. ConsumerDirect was the easiest Refi I've done. Their rates beat all my prior connections and their fee's were the lowest. I don't see me using anyone else again. The process was easy, I scanned my documents, loaded them up to a secure website then we communicated via email and phone for the follow-ups. Their response time was usually within the hour, in fact I felt guilty if I didn't get back to them within a few hours. From start to finish it took 4 weeks (and that was doing 2 cash out refi's at the same time). I would highly recommend them to anyone looking for a loan. This online process is so much better than the way getting mortgages used to be. Use them, you won't be disappointed!

By: Scott (Portland, OR)
See All Reviews

15 Year Fixed

Interest Rate
2.500%
APR
2.718%
Monthly Payment
$1,334
eLEND
15 Year Fixed
Interest Rate
2.500%
APR
2.718%
Monthly Payment
$1,334
(855) 982-3216 Contact
eLEND
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,334
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,334
Lender Fees $3,048
Lender Credit $0
Total Closing Fees* $3,048
*Other 3rd party fees may apply
eLEND
Email Lender

About the Lender

eLEND provides residential mortgage financing directly to potential home buyers and existing homeowners through a robust online platform built to simplify the lending process. Our mortgage technology solutions help thousands of families every year achieve their home financing goals. We offer Conventional, FHA, VA, USDA, Jumbo, and Renovation financing programs with exceptional rates and service. A division of American Financial Resources, Inc., eLEND is backed by over 18 years of industry success. Our expert Mortgage Loan Originators will help connect you with the ideal financing solution to achieve your specific goals. Contact us today for a free rate quote or e-Approval.
eLEND
Email Lender Write a Review

Lender Reviews

Wade

After giving them papers directly from the IRS , after having to show divorce papers from 14yrs. Ago, having to get an itemized list of whom was filled on my bankruptcy, let's see what else phone numbers of ex employer from two years ago not the same year, personal reference?????please tell me how showing papers off an old divorce is when relevant? What about a bankruptcy that is 8yrs. Old, is it going to end it's been since December 3, 2015

By: Keri (Gibsonton, FL)

very rude

Stephen Pullen contacted us and he was extremely rude. He kept interrupting me and talking over me. Completely uninterested in what our needs were. We tried back in October to use them and no call backs. Very poor customer service

By: karen (Hinesville, GA)

good

Yes, I recommend this lender

Good

By: Arlen (Mukilteo, WA)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank
15 Year Fixed
Interest Rate
2.625%
APR
2.804%
Monthly Payment
$1,346
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,346
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,346
Lender Fees $2,499
Lender Credit $0
Total Closing Fees* $2,499
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Great First Home Buying Experience!

Yes, I recommend this lender

They were extremely quick to respond after initial inquiry online. I received a phone call and email within an hour after submitting a request for information. They were very knowledgeable every step of the way and helped us meet our early deadline for closing! The website was easy to use to upload all our documents, and the closing company was impressed with the ease of communication and coordination. Great experience for first time home buying!

By: Melissa (Beaver, PA)

Great Experience

Yes, I recommend this lender

I have refinanced many times over the years and Consumer Direct Mortgage stands out above all of the mortgage companies that I have worked with. Everyone that I dealt with was friendly, efficient, and knowledgeable.

By: Dan (Harvard, MA)

Great Company to Use

Yes, I recommend this lender

I just completed two Cash out refinances with ConsumerDirect. I have to say, using ConsumerDirect was a great experience. I've done over a dozen Refinances and home purchases mortgages over the years, using Mortgage Brokers, Big Banks, Small Local Banks and Mortgage companies. ConsumerDirect was the easiest Refi I've done. Their rates beat all my prior connections and their fee's were the lowest. I don't see me using anyone else again. The process was easy, I scanned my documents, loaded them up to a secure website then we communicated via email and phone for the follow-ups. Their response time was usually within the hour, in fact I felt guilty if I didn't get back to them within a few hours. From start to finish it took 4 weeks (and that was doing 2 cash out refi's at the same time). I would highly recommend them to anyone looking for a loan. This online process is so much better than the way getting mortgages used to be. Use them, you won't be disappointed!

By: Scott (Portland, OR)
See All Reviews

5/1 ARM

Interest Rate
2.750%
APR
3.284%
Monthly Payment
$817
Consumer Direct Mortgage, a division of FirstBank
5/1 ARM
Interest Rate
2.750%
APR
3.284%
Monthly Payment
$817
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $817
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $817
Lender Fees $1,910
Lender Credit $0
Total Closing Fees* $1,910
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Great First Home Buying Experience!

Yes, I recommend this lender

They were extremely quick to respond after initial inquiry online. I received a phone call and email within an hour after submitting a request for information. They were very knowledgeable every step of the way and helped us meet our early deadline for closing! The website was easy to use to upload all our documents, and the closing company was impressed with the ease of communication and coordination. Great experience for first time home buying!

By: Melissa (Beaver, PA)

Great Experience

Yes, I recommend this lender

I have refinanced many times over the years and Consumer Direct Mortgage stands out above all of the mortgage companies that I have worked with. Everyone that I dealt with was friendly, efficient, and knowledgeable.

By: Dan (Harvard, MA)

Great Company to Use

Yes, I recommend this lender

I just completed two Cash out refinances with ConsumerDirect. I have to say, using ConsumerDirect was a great experience. I've done over a dozen Refinances and home purchases mortgages over the years, using Mortgage Brokers, Big Banks, Small Local Banks and Mortgage companies. ConsumerDirect was the easiest Refi I've done. Their rates beat all my prior connections and their fee's were the lowest. I don't see me using anyone else again. The process was easy, I scanned my documents, loaded them up to a secure website then we communicated via email and phone for the follow-ups. Their response time was usually within the hour, in fact I felt guilty if I didn't get back to them within a few hours. From start to finish it took 4 weeks (and that was doing 2 cash out refi's at the same time). I would highly recommend them to anyone looking for a loan. This online process is so much better than the way getting mortgages used to be. Use them, you won't be disappointed!

By: Scott (Portland, OR)
See All Reviews
Sebonic Financial
5/1 ARM
Interest Rate
2.625%
APR
3.312%
Monthly Payment
$804
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $3,511
Lender Credit $0
Total Closing Fees* $3,511
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
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Lender Reviews

Sebonic was quick, inexpensive and easy

Yes, I recommend this lender

After receiving what I perceived as poor service at Quicken I walked away from them the week of the scheduled closing and went with Sebonic. As far as I am concerned it was a great decision as I closed quickly with a slightly better rate and lower closing costs. James Dawkins was assigned to push my loan through and he was very responsive and helpful. For the closing they sent a notary to my home and with a little help from James everything was done in about 45 minutes. This was probably about my 20th loan / refi and the first that was done almost entirely via the internet. The internet added a few twists to the process but overall it was painless.

By: Andrew (Pinehurst, NC)

Avoid at all costs

Started our refi 3 months ago, and for the second time, no one showed up for our closing, with no call, email, anything!!! WORST experience ever! Would gladly have paid thousands more if I had known! Started with after waiting 2 weeks for the appraisal, the first appraiser having a "family emergency" so had to wait another 2 weeks for another appraiser. We felt bad for the first guy, so we understood. This is when we first started to notice emails and phone calls not being answered. The only time we could reach anyone was to call their customer service line, and they would corner our rep. And then we would get circle answers, and promises of answers that never came. Then a glitch in paperwork came up due to a discharged bankruptcy years ago. Offered to handle it with guidance and were told they would take care of it. That was that. We were then told we would close Friday or Saturday, after only 6 weeks... Great! They will call us. No call Thursday. Friday we call 3-4 times, email, no answer. Still waiting by the phone Saturday, called, emailed, still nothing. We called and emailed Monday... No answer. Finally Tuesday for a "manager" who advised our rep was our of town and would get back to us the next day. Finally heard from him 2 days after that, and many emails and calls, and the bk paperwork came back to bite us. We had to handle this now. So we are now on our FOURTH extension, discussing something that was originally discovers the first week and we were told was not a problem. Then our rep gets in an "accident" so we are now dealing with the manager. We Also find out we will have to file the FIFTH extension, which they will it pay for but costs us almost another $900! WE took care of that, to avoid having to wait for them. We told them that day it would be 2 weeks. We close that, and they have done NOTHING to get it moving again. They needed the paperwork. So we send that to them on Friday, during business hours, for the second time because the attorney sent it to them as well. Monday was a holiday, Tuesday we call and email. I get an email back again asking for that paperwork. I send it a third time, and am told great, should close Wednesday since everything else is "done." Wednesday keep emailing and calling, all day. Re sending paperwork they have, but at least it's moving. Then... Nothing! Call customer care at 5:00 and reach the officers manager again to be told all looks good, we will call you in the morning to close tomorrow, we requested 12:00, she assured us that should be doable. Once we heard fro The closer, they advise they can't do that, so we agree on 8 pm. Bat 6:30 I happen to check my email to find an email for the manager asking for current credit card statements, which ones were not listed though. Ok.... I'm on the road, so I ask her if which ones, and if it can wait until I get home. I specifically ask if this will effect our closing since this is so last minute. She sends me the list, no other replace sw. I send her 4 more emails in the next hour asking if we are closing... I call the main line, customer care, and every other number we can find all with no answers. I have the email confirming the closing for tonight at 8 pm, and here it is 11:30 and no show still. Yes, I know they won't be here, and I am still hoping for tomorrow, but I'm so me I know I can't sleep. Please, save yourself the stress, sleepless night and frustration and take your business elsewhere. We started this June 16 and STILL have not closed, and can not get an explanation why.

By: Donna (Littleton, CO)

Owner

Yes, I recommend this lender

Overall experience was one of complete pleasure. Any delay in the process was caused by me and at that, it was only a month.

By: Haydee (Marietta, GA)
See All Reviews
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

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New Jersey Mortgage Rates: Getting a Deal Buying a Home
Nearly nine million people already call the Garden State home, many of them commuting to nearby New York City on a daily basis via easily-accessible and frequent public transportation. Whether you're looking for the bustle of Trenton or Atlantic City, or you prefer something more rural, you can find it in New Jersey, and low NJ mortgage interest rates can help make it happen.

Mortgage Rates from New Jersey's Live Where You Work Program
It's possible to get great New Jersey mortgage interest rates via the Live Where You Work Program, a housing assistance program that offers incentives for New Jersey residents to purchase homes in the towns where they work.  The Live Where You Work Program is designed to:

• build strong communities
• help locals cut down on commuting costs
• help people become homeowners in New Jersey

This program offers attractively low NJ mortgage interest rates and flexible loan application reviews.

Current NJ Mortgage Interest Rates and Your Budget
If you have less-than-perfect credit, or little money for a down payment, you can still get current NJ mortgage rates that fit your budget.

Several New Jersey-based programs help potential homeowners to secure low NJ mortgage rates and finance their home purchases. These programs include:

• Smart Start: This program helps first-time homebuyers in eligible areas with down payment and closing costs of a low percentage of their mortgage price.

• The Home Plus Program: For those who meet income guidelines, this program offers a fixed interest rate and up to a certain amount of financing rolled into their first mortgage for homes that need immediate improvement.

New Jersey's Police and Fireman's Retirement System Mortgage Program
This program helps qualified, retired police and firefighters finance home purchases in New Jersey. Mortgage interest rates through this program are competitively low, and fixed for 30 years. To learn more about this program, including current limits and rates, please visit: http://www.nj.gov/dca/hmfa/consu/buyers/ownprg/police.html.