There are many mortgage loan programs available in the state of New Jersey. Some of the more common loan programs available for refinance or purchase are:

- 100% Financing
- 80/20 No MI
- 115% Cash Out Refinance
- First Time Home Buyer Programs
- Fannie Mae & Freddie Mac Loan Programs
- 40 Year Mortgage
- Non Conforming (Impaired Credit)
- Stated Income (No Income Verification)
- Bankruptcy Buyout
- Multi Unit Programs

Many other loan programs are available. If you have any questions about a loan program feel free to contact a mortgage consultant at 414-687-9449 or via email dsewell1974@yahoo.com

New Jersey is also a "No Prepayment Penalty" state, meaning lenders typically cannot charge a prepayment penalty on an owner-occupied loan. The exception to this rule are federally chartered banks, who often still impose a prepayment penalty in New Jersey.

The State of New Jersey offers excellent rates to qualified borrowers with the New Jersey Housing and Mortgage Finance Agency(HMFA) loan programs. These programs offer New Jerseyans low interest rate and downpayment options for purchases. There are income limitations to qualify. Ask your mortgage professional if they offer the NJHMFA loan program, and see if it is right for you.

New Jersey also is a "brick and mortar" state, meaning that a lender or broker must have a physical location in New Jersey in order to be licensed as a mortgage broker or banker in New Jersey.

New Jersey also has a separate licensing requirement for 1st Mortgage Loans and Second Mortgage Loans. Be sure to ask your mortgage professional which, if any, licenses they have to originate loans in New Jersey.