Mortgage Loan Programs in New Jersey – Find the Right Fit for You
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Conventional
A conventional loan is any mortgage loan that is not insured or guaranteed by the government (such as under Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs).
The most common type of mortgage
FHA
The Federal Housing Administration (FHA) administers a program of loan insurance to expand homeownership opportunities. The cost of the mortgage insurance is passed along to the homeowner, making this type of loan, more expensive than a conventional loan. The benefit is that qualifying for these loans are generally more flexible than conventional loans.
Minimum 3.5% down payment
VA
The Veterans Affairs home loan program is a government-backed loan that allows eligible veterans and service members to purchase a home with no down payment and much lower interest rates. The GI Bill of Rights established the program in 1944 to assist veterans in reintegrating into civilian life following World War II.
For veterans and their spouses
USDA
These loans are issued and guaranteed by the United States Department of Agriculture. They are intended to assist low-income individuals in financing the purchase and improvement of a single-family primary residence in rural and suburban regions.
No down payment necessary
First Time Home Buyer
A FTHB loan is a mortgage program specifically designed to assist individuals purchasing their first home, often offering benefits such as low down payment requirements, reduced interest rates, and financial assistance to help with closing costs or down payments.
Minimum 3% down payment
Self Employed
These mortgages often require alternative documentation, such as tax returns, profit and loss statements, and bank statements, to verify income. Lenders may also consider factors like length of time in business and stability of the borrower’s income when assessing eligibility for a self-employed mortgage.
No W-2 required
Construction Loans
A construction loan provides financing for the construction of a new property or significant renovations to an existing property. The loan is typically disbursed in stages as the construction progresses. Once construction is complete, the loan may be converted into a traditional mortgage or paid off with a permanent financing option.
Typically short term financing
Commercial
These loans are typically used to finance the acquisition, construction, or renovation of office buildings, retail spaces, industrial facilities, or multi-family (5 units+) residential properties. They often have different terms and requirements compared to residential mortgages, including higher interest rates, shorter repayment periods, and stricter eligibility criteria based on the financial health and creditworthiness of the business.
Rates vary by property
DSCR
A DSCR loan is an investment property mortgage that qualifies a borrower based on the predicted rental income of the property rather than their personal income or debt.
Typically need DSCR > 1
HELOCs
A Home Equity Line of Credit offers current homeowners a simple way of tapping into their home’s equity when a cash-out refinance doesn’t make sense due to having a low interest rate on their current mortgage.
$25,000 minimum line amount
Reverse
A reverse mortgage is a home loan that lets homeowners draw on their home equity. It is referred to as a “reverse mortgage” because you receive payments from your lender rather than making monthly loan payments to them.
Must be age 62+
Bridge Loan
Short term, interest only loan that is typically used in real estate to cover the period between the purchase of a new property and the sale of an existing property.
Higher rates and fees than other loans
EXCELLENT
Based on 61 reviews
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Megan HandlerSeptember 18, 2026I’ve worked with a lot of lenders over the years, and Rick and Anywhere Lending are truly a standout! Rick is always easy to communicate with, incredibly responsive, knowledgeable, and just makes the entire process easy. Since they’re brokers, they also have access to a wide range of loan options and are always working to find the best fit for their clients. I recommend Rick every chance I get. Don’t waste your time looking elsewhere. Call Rick!Posted on Google
Jake HandlerSeptember 17, 2026Highly recommend Rick for all New Jersey mortgage needs. Rick is extremely responsive, reliable, and communicative!Posted on Google
Vasu NaikAugust 12, 2026Rick is an absolutely great guy! It’s been quite a journey—we were looking for a house for almost 2.5 years, and Rick was always there to help, answer our questions, and guide us through the process. He was patient, professional, responsive, and genuinely cared about helping us find the right home and mortgage. We truly appreciate all his hard work and support throughout the entire journey. I highly recommend Rick to anyone looking for a mortgage professional. Thank you, Rick, for being there every step of the way!Posted on Google
AK VenturesAugust 8, 2026We had a great experience working with Rick Borgo as our broker during the purchase of our property. The closing process was long and grueling, with plenty of challenges along the way, but Rick stuck with us through the entire process. He was always willing to provide his advice, answer our questions, and help us navigate each step so we could make informed decisions. His patience, knowledge, and commitment really stood out, especially during the more difficult moments of the transaction. We ultimately closed on the property feeling confident that we had gotten the best deal we could, and Rick played a big part in helping us get there. We truly appreciate all of his hard work and would absolutely recommend Rick to anyone looking for a broker who will go the extra mile for his clients.Posted on Google
Tim O'NeillJuly 27, 2026We partnered with Rick and his team to secure a mortgage for our local move. Rick was transparent and clear about industry nuances given interest rates at a one-year high and uncertainty around rate cuts or increases, and he shared a video detailing all the information. Unlike a typical 15-minute phone call, this video allows for easy reference and is invaluable. I highly recommend Rick and his team to anyone moving, and I encourage you to speak with them.Posted on Google
Nathan KholodenkoJune 29, 2026I was referred to Rick by a friend, and it was hands down the best recommendation we could have received. From start to finish, Rick managed our entire mortgage application process flawlessly and made sure everything went incredibly smoothly. The mortgage process has a lot of moving parts, but Rick always made time to hop on a call and break down the intricate details so we always knew exactly what was happening. He is super responsive and easy to get a hold of—at no point did I ever feel left in the dark. In a really challenging market, Rick helped us navigate our options quickly and decisively. I’m incredibly grateful for Rick's support throughout this journey and would strongly encourage anyone looking for a mortgage to take advantage of his expertise and awesome service!Posted on Google
John CordovanoJune 29, 2026Working with Rick was an absolute pleasure! His intricate videos laying out your closing costs and how much money you need on hand was quite remarkable. We knew exactly what was needed and where it was going. Even the Title company was impressed! Highly recommend Anywhere Lending when purchasing a home!Posted on Google
James GarthaffnerMay 20, 2026This is my second time using Rick and like the first time he was incredibly helpful and resourceful. He was always available by phone and guided me through the approval and closing process. The document collection is super easy and organized. Definitely recommend.Posted on Google
Alexander LagoApril 21, 2026Is my second time working with Rick and in both cases he was outstanding, he always answered the phone or got back to me in a matter of minutes. You won’t go wrong with him!