Home Loans in New Jersey
The Garden State offers diverse communities near NYC and Philadelphia. NorthStar Funding serves NJ buyers statewide. All credit scores welcome — even no score.
New Jersey Housing Market
About the New Jersey Real Estate Market
New Jersey's proximity to NYC and Philadelphia drives strong housing demand. From Jersey City's urban living to suburban Morris County, options exist at various price points. While property taxes are high, excellent schools and transit access make NJ attractive for families.
Loan Programs Available in New Jersey
We offer a variety of mortgage options to fit your unique situation. All programs welcome borrowers with less-than-perfect credit.
NJHMFA Programs
New Jersey Housing and Mortgage Finance Agency programs with down payment assistance.
FHA Loans
Government-backed loans popular in NJ with flexible credit requirements.
VA Loans
Zero down payment for New Jersey veterans.
Non-QM / Bank Statement
Perfect for NJ entrepreneurs and NYC commuters with variable income.
Check Your Eligibility
See if you qualify for special loan programs with lower down payments and flexible income requirements.
Income Eligibility Checker
HomeReady® & Home Possible® - 3% Down Payment Programs
HomeReady®by Fannie MaeIncome must be ≤80% of Area Median Income (AMI). No geographic restrictions.
Home Possible®by Freddie MacIncome must be ≤80% AMI. Some census tracts have no income limit.
Quick Comparison:
| Feature | HomeReady® | Home Possible® |
|---|---|---|
| Min. Down Payment | 3% | 3% |
| Min. Credit Score | 620 | 620 |
| Income Limit | ≤80% AMI | ≤80% AMI* |
| Homebuyer Education | Required | Required |
*No income limit in designated underserved areas
Why Choose NorthStar Funding in New Jersey?
Cities We Serve in New Jersey
What New Jersey Homeowners Say
"NorthStar helped us buy in Jersey City with a view of Manhattan. They understood the competitive Hudson County market."
The Park Family
"Found our dream home in Morristown with NorthStar. Great schools and easy commute to NYC!"
Michael & Jennifer R.
"NJHMFA assistance made homeownership possible in Edison. NorthStar guided us through the entire process."
The Patel Family
Frequently Asked Questions
What credit score do I need to buy a home in New Jersey?
NorthStar Funding welcomes all credit scores in New Jersey, starting as low as 500 with FHA loans (10% down). For scores 580+, you may qualify for just 3.5% down.
What are the best mortgage programs available in New Jersey?
In New Jersey, we offer FHA loans, VA loans, conventional loans, jumbo loans for high-cost areas, and bank statement loans. NJHMFA programs provide down payment assistance.
How much is the average home price in New Jersey?
The median home price in New Jersey is approximately $475K. Bergen County and the NYC suburbs are significantly higher, while South Jersey and inland areas offer more affordable options.
Are there first-time homebuyer programs in New Jersey?
Yes! NJHMFA offers the Down Payment Assistance Program with up to $15,000 as a forgivable second mortgage. Income limits apply based on household size and county.
What are property taxes like in New Jersey?
New Jersey has the highest property taxes in the nation at approximately 2.5% of assessed value. We carefully factor this into your debt-to-income ratio during qualification.
Can I get a mortgage in New Jersey with no down payment?
Yes! VA loans offer 0% down for veterans. While most of NJ is suburban/urban, some areas in South Jersey and the Pine Barrens may qualify for USDA loans.
How long does it take to close on a home in New Jersey?
The typical closing timeline in New Jersey is 30-45 days. NJ uses attorneys for closings and has a unique attorney review period of 3 business days after contract signing.
Does NorthStar Funding offer manual underwriting in New Jersey?
Yes! We specialize in manual underwriting for NJ borrowers. This is valuable for NYC commuters with variable income, bonuses, or commission-based pay.
What documents do I need to apply for a mortgage in New Jersey?
Typical documents include 2 years of tax returns, recent pay stubs, bank statements, W-2s or 1099s, and ID. Self-employed borrowers can use bank statement programs.
Can self-employed borrowers get a mortgage in New Jersey?
Absolutely! Our bank statement programs are popular with NJ entrepreneurs and NYC commuters with variable income, especially in Jersey City and Hoboken.
NorthStar Funding Licensing Information
NMLS #: 123456
Licensed in: Multi-State
Years in Business: 15+
Total Loans Originated: $2B+
Ready to Get Started?
See your options in minutes with no impact to your credit score. Our team is ready to help you find the right loan for your New Jersey home.