With a reputation like “NJ Lenders Corp.,” there’s no query who they’re targeted on; people within the Backyard State!
What’s extra fascinating is the truth that one thing like 70% of their mortgage loans are derived from earlier buyer referrals.
In different phrases, they continually get really helpful by mates and neighbors, as an alternative of getting to rely solely upon promoting.
And if you focus so closely on one geographical space, you positively need to get it proper.
Thus far, they appear to be engaging in their objectives, as evidenced by their hundreds of 5-star critiques. Learn on to be taught extra.
NJ Lenders Corp. Quick Information
- Retail, direct-to-consumer mortgage lender
- Provides dwelling buy loans and refinances
- Based in 1991, headquartered in Little Falls, NJ
- Funded roughly $5.5 billion in dwelling loans final yr
- Greater than 80% of enterprise achieved in dwelling state of New Jersey
- Additionally energetic in New York, Massachusetts, and Florida
- At the moment licensed in 14 states and the District of Columbia
NJ Lenders Corp. is a direct-to-consumer mortgage lender with branches in three states, principally situated in New Jersey.
They obtained their begin means again in 1991, which should you’re not holding monitor is greater than 30 years in the past.
Since that point, they’ve grown from a modest single workplace right into a multi-billion-dollar mortgage originator.
They’ve closed greater than 100,000 mortgage loans, with mortgage quantity exceeding $40 billion.
Final yr, they funded a strong $5.5 billion in dwelling loans, which was most likely their largest annual manufacturing on report.
Enterprise was break up almost equally between buy loans and mortgage refinances.
In the intervening time, they’re licensed in 16 states, together with Colorado, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, together with Washington D.C.
As famous, they’re laser-focused on New Jersey, with the state accounting for greater than 80% of general quantity.
However they’re additionally energetic within the states of New York, Massachusetts, and Florida, and originate dwelling loans throughout a lot of the East Coast.
Methods to Apply for a Mortgage with NJ Lenders Corp.
Whereas they’ve bodily branches in New Jersey, New York, and Pennsylvania, there’s a very good probability you’ll work remotely with a mortgage officer.
The excellent news is that they have a strong web site and mortgage utility course of, which is generally paperless.
In actual fact, you may obtain their free smartphone app and full a lot of the method from the palm of your hand.
Their digital app is powered by SimpleNexus, one of many leaders within the fintech house.
It means that you can full the appliance digitally from any machine, eSign paperwork, add paperwork, and snag same-day pre-approvals.
As soon as your mortgage is submitted, you’ll acquire entry to safe, real-time updates as your mortgage progresses ahead.
NJ Lenders Corp. stated they constructed a greater operations platform by holding 95% of their information in-house.
This permits them to regulate all the underwriting and mortgage closing course of, bettering each efficiencies and pace.
In case you’re a house purchaser, you may benefit from their “House Purchaser’s Edge” program, which matches past a fundamental mortgage pre-qualification.
It supplies a full credit score approval that entails an entire overview of your earnings, property, and credit score by a mortgage underwriter.
This offers dwelling sellers peace of thoughts your supply can really shut within the occasion of a bidding battle.
All in all, they seem to supply the most recent tech and a strong operations setup to maintain loans transferring rapidly to the closing desk.
To get began, merely head over to their web site and click on on “get a charge quote” or “discover a mortgage officer.”
House Mortgage Applications Provided by NJ Lenders Corp.
- House buy loans
- Refinance loans: charge and time period, money out, streamline
- House renovation loans
- Conforming loans
- Jumbo loans
- FHA loans
- VA loans
- USDA loans
- First-time dwelling purchaser loans
- Non-warrantable apartment financing
- Reverse mortgages
- Curiosity solely dwelling loans
NJ Lenders Corp. gives a wonderful collection of mortgage packages, together with harder-to-find choices like interest-only dwelling loans and non-warrantable apartment financing.
You may get a house buy mortgage, renovation mortgage, or refinance mortgage, together with a money out refinance.
They provide the complete suite of presidency loans (FHA/USDA/VA), together with each conforming loans and jumbos.
They usually’ve obtained first-time dwelling purchaser loans with low down cost necessities, in addition to reverse mortgages for seniors.
You may get a house mortgage on all main property sorts, from single-family houses to condos/townhomes and funding properties.
NJ Lenders Corp. Charges
The one space the place extra info could be useful is pricing.
They don’t publicize their mortgage charges on-line, neither is there a lender payment part on their website.
This implies you’ll must fill the mortgage charge quote request kind on their web site, or just name in to get linked with a mortgage officer.
Typically, it’s finest to get pricing and examine eligibility earlier than finishing a mortgage utility anyway.
NJ Lenders Corp. does say their purpose has all the time been to supply aggressive mortgage charges and charges, and so they wrote “finest mortgage charges” on their web site homepage.
In order an impartial mortgage banker there’s a very good probability they provide low charges. However all the time take the time to buy round, and examine gives.
Additionally inquire about any charges charged, resembling a mortgage origination payment or separate prices for underwriting and processing, if relevant.
NJ Lenders Corp. Opinions
On Expertise.com, NJ Lenders Corp. has a wonderful 4.88-star score out of a attainable 5 from greater than 20,000 buyer critiques.
You may filter by mortgage officer on that website if you wish to fine-tune your search.
Over at Zillow, it’s a superior 4.98-star score from 3,300+ critiques, just about as near perfection as you may get.
A lot of these critiques point out that the rate of interest and/or charges and shutting prices have been decrease than anticipated.
They’ve additionally obtained a 4.8-star score on Google from greater than 600 critiques.
Lastly, whereas not accredited with the Higher Enterprise Bureau (BBB), they do maintain an ‘A+’ score based mostly on grievance historical past.
To summarize, NJ Lenders Corp. has hundreds of wonderful buyer critiques, makes use of the most recent tech, and has tons of mortgage packages to select from.
The one actual query mark pertains to mortgage pricing. If it’s additionally good, they may very well be a wonderful selection for both a house buy or a refinance.
NJ Lenders Corp. Professionals and Cons
- Can apply for a house mortgage on-line or through smartphone
- Many bodily branches within the state of New Jersey
- Provide a digital mortgage course of powered by SimpleNexus
- Numerous mortgage packages together with interest-only, reverse, and so on.
- Provide absolutely underwritten credit score approvals to present dwelling consumers an edge
- Hundreds of wonderful buyer critiques throughout scores web sites
- A+ BBB score
- Free smartphone app
- Free mortgage calculators, guides, and glossary on-line
The Possibly Not
- Solely licensed in 16 states (primarily East Coast)
- Don’t publicize mortgage charges or lender charges
(picture: Bobby Hidy)