Oakland NJ Mortgage Broker
Lakefront living with outdoor recreation. FHA, VA, and Conventional home loans with expert guidance from CMG Home Loans.
Outdoor Recreation & Lakes
Oakland offers nature-focused living with a median home price of $615,000. This scenic community of ~13,000 residents features access to Pompton Lake, Ramapo Lake, and the Ramapo River, creating an outdoor enthusiast's paradise.
With property tax rates averaging 2.52%, Oakland provides excellent value for lakefront and nature-adjacent living. Hiking trails, water activities, and parks complement the residential neighborhoods, while A-/B+ rated schools attract families seeking quality education.
Strong schools and outdoor lifestyle make Oakland ideal for active families, nature lovers, boating enthusiasts, and anyone prioritizing recreation and scenic beauty in suburban Bergen County.
Oakland Market Snapshot
Home Loan Programs for Oakland
Flexible financing options tailored to Oakland's lakefront market. NMLS #1577754
FHA Loans
Perfect for first-time buyers in Oakland. Just 3.5% down ($21,525 on median $615K home).
- ✓Down payment as low as 3.5%
- ✓Credit scores from 580
- ✓Competitive 6.125% rates
VA Loans
Zero down payment for eligible veterans and service members. Save $21,525+ upfront.
- ✓0% down payment required
- ✓No mortgage insurance (PMI)
- ✓6.00% competitive rates
Conventional Loans
Flexible options with 3-20% down. Ideal for buyers with good credit seeking competitive rates.
- ✓As low as 3% down ($18,450)
- ✓Remove PMI at 20% equity
- ✓30-year fixed at 6.40%
Jumbo Loans
For Oakland properties exceeding conforming loan limits or luxury lakefront homes.
- ✓Loans above $806,500
- ✓Competitive jumbo rates
- ✓Flexible qualification
Oakland Mortgage FAQs
What is the minimum down payment needed in Oakland NJ?
FHA loans require 3.5% down ($21,525 on $615K median home), VA loans 0% down for eligible veterans, Conventional loans 3-20% down ($18,450-$123,000 on median). First-time buyers often use FHA or Conventional 3% down programs.
How much are property taxes in Oakland NJ?
Oakland has an average property tax rate of 2.52%. On a $615K median home, expect approximately $15,498 annually ($1,292/month). This is below the Bergen County average of 2.73%.
What makes Oakland attractive for homebuyers?
Oakland offers outdoor lifestyle living with a median of $615K, access to Pompton Lake and Ramapo Lake, excellent A-/B+ rated schools, a community of ~13,000 residents, scenic nature trails and recreation, and lower property taxes at 2.52%.
What loan programs work best for Oakland home purchases?
FHA loans are popular for first-time buyers (3.5% down), VA loans for veterans (0% down), Conventional loans for those with good credit (3-20% down), and Jumbo loans for properties exceeding conforming limits. Current rates: 30yr 6.40%, FHA 6.125%, VA 6.00%.
Ready to Buy in Oakland?
Get pre-approved for your Oakland home loan today. Expert guidance from Jimmy Joseph MBA, NMLS #1577754.