What areas does CMG Home Loans serve in Bergen County?

CMG Home Loans serves all 70 municipalities in Bergen County, NJ, including Paramus, Ridgewood, Fort Lee, Hackensack, Teaneck, Fair Lawn, and more. We provide local expertise with competitive mortgage rates throughout the county.

What is the current conforming loan limit in Bergen County, NJ?

The 2024 conforming loan limit for Bergen County, NJ is $1,149,825 for a single-family home. Loans above this amount are considered jumbo loans. CMG Home Loans offers both conforming and jumbo mortgage options.

What types of mortgage loans does CMG offer?

CMG Home Loans offers a comprehensive range of mortgage products including FHA loans, VA loans, USDA loans, Conventional loans, Jumbo loans, All-In-One Mortgage, HomeFundIt down payment assistance, Renovation 203k loans, Reverse mortgages, and Builder programs.

What credit score do I need for a mortgage in Bergen County?

Credit score requirements vary by loan type. FHA loans may be available with scores as low as 580 with 3.5% down. Conventional loans typically require 620+. VA loans have flexible credit requirements. Contact CMG for personalized guidance based on your situation.

How much down payment do I need in Bergen County?

Down payment requirements vary: FHA loans require 3.5% minimum, Conventional loans can be as low as 3% for first-time buyers, VA loans offer 0% down for eligible veterans, and Jumbo loans typically require 10-20%. CMG also offers HomeFundIt for down payment assistance.

Paramus Real Estate Market Report

Comprehensive quarterly analysis of Paramus housing market trends, prices, and forecasts

Report Period: Q4 2024

Next Update: Q1 2025

Paramus Market Overview - Q4 2024

Key performance indicators for the Paramus residential real estate market

Median Home Price

$875,000

+5.2% YoY

Days on Market

Average listing period

Inventory Level

2.1

Months of supply

List-to-Sale Ratio

98.5%

Of asking price

Market Statistics

Active Listings127

Homes Sold (Q4)89

Price per Sq Ft$425

Market Conditions

$1M-$1.5M

58 days avg18%

Over $1.5M

72 days avg7%

2024 Quarterly Performance

Year-over-year price and sales volume trends

Q1 2024

Median Price

$835,000

Homes Sold

Q2 2024

Median Price

$855,000

Homes Sold

Q3 2024

Median Price

$865,000

Homes Sold

Q4 2024

Median Price

$875,000

Homes Sold

Q1 2025 Market Forecast

Based on current trends and economic indicators, we expect the Paramus real estate market to maintain its strength heading into 2025.

Price Growth: Projected 3-5% appreciation in Q1 2025, driven by continued low inventory and strong demand
Inventory: Expected to remain below 3 months of supply, maintaining seller's market conditions
Market Velocity: Properties priced correctly should sell within 30-45 days

Key Factors to Watch

Interest Rates

Federal Reserve policy will significantly impact buyer purchasing power and market activity

Spring Market

Traditional spring buying season expected to bring increased inventory and competition

NYC Job Market

Employment trends in NYC directly impact Bergen County housing demand

Data Disclaimer: Market statistics are compiled from multiple sources and are for illustrative purposes only. Actual market conditions may vary. Data accuracy cannot be guaranteed. Consult with a real estate professional for current market analysis.

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