River Edge NJ Mortgage Broker
Premium Home Financing for River Edge's Affluent Community
Local mortgage expertise for River Edge homebuyers. Conventional, Jumbo, VA, and FHA loans with competitive rates.
Why Buy a Home in River Edge NJ?
Market Insights
- ✓Top-rated schools with A- ratings across all levels
- ✓Family-friendly neighborhoods with tree-lined streets
- ✓Exceptionally low property taxes at 2.29% (vs 2.73% county avg)
- ✓Local parks, library, and community events year-round
Local Advantage
- ✓Mix of single-family homes and well-maintained properties
- ✓Safe, family-oriented community atmosphere
- ✓Easy access to NYC via Route 17 and Parkway
- ✓Strong schools and safe neighborhoods for families
Mortgage Programs for River Edge Homebuyers
Premium financing options tailored to River Edge's $695,000 median home price
Conventional Loans
5% DownIdeal for buyers with strong credit. Just $34,750 down to purchase River Edge's median-priced home.
- Down payment as low as 5%
- Lower interest rates for qualified buyers
- 30-year fixed: 6.40%
Jumbo Loans
10% DownFor luxury River Edge properties over $766,550. Competitive rates for high-balance mortgages.
- Down payment from 10-20%
- Loan amounts over $766,550
- Competitive jumbo rates
VA Loans
0% DownMilitary families can purchase in River Edge with no down payment and no monthly mortgage insurance.
- No down payment required
- No monthly PMI
- Competitive rates: 6.00%
FHA Loans
3.5% DownPerfect for first-time buyers in River Edge. Just $24,325 down on an $695,000 home with flexible credit.
- Down payment as low as 3.5%
- Credit scores from 580
- Competitive rates: 6.125%
Frequently Asked Questions
What down payment is required for a home in River Edge NJ?
Down payments in River Edge vary by loan type. Conventional loans typically require 5-20% down ($34,750-$170,000 on an $695,000 home). Many River Edge properties exceed the $766,550 conforming loan limit and require jumbo financing with 10-20% down. VA loans offer 0% down for eligible veterans. FHA loans require 3.5% down ($24,325).
Are there first-time home buyer programs for River Edge NJ?
Yes, though River Edge's higher home prices may limit some programs. New Jersey offers NJHMFA down payment assistance, FHA loans with 3.5% down, and conventional 97 programs. First-time buyers in River Edge's market often benefit most from conventional loans with competitive rates for well-qualified borrowers.
What are property taxes like in River Edge NJ?
River Edge has a property tax rate of approximately 2.29%, significantly lower than the Bergen County average of 2.73%. On the median home price of $695,000, annual property taxes average $15,900. River Edge offers exceptional value with low taxes, A-rated schools, and affluent neighborhoods.
What is the best loan type for buying a home in River Edge NJ?
For River Edge's median $695,000 home price, many properties require jumbo loans (above $766,550 conforming limit). Conventional loans work well for properties under the limit. Veterans should explore VA loans for 0% down. The best option depends on your property price, credit score, and down payment amount.
Ready to Buy Your River Edge Home?
Get pre-approved today and start your journey to luxury living in this prestigious community.
NMLS #1577754 | Branch NMLS #2477715