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Jersey Mortgage Co.

Jersey Mortgage Co.

 4.6/5 (465 ratings)
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  • 1 stars
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About Jersey Mortgage Co.

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Jersey Mortgage Company is a lender that offers competitive and flexible home loan options and personalized customer service. Because the company is a direct lender, it can provide homeowners with in-house underwriting, FHA, USDA, VA and first-time homebuyers loans, as well as other home loan programs.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • No third-party interference
  • Informative website
  • Emphasis on personalized service

Cons

  • Available only in three states
  • No cost information on the website

Bottom Line

Jersey Mortgage is a direct lender in New Jersey. Its website features its loan officers and boasts personalized service and competitive rates. It writes in-house loans, with FHA, VA, USA, first-time buyer options and more.

Top Jersey Mortgage Co. Reviews

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Rated with 5 stars
Verified

I was purchasing a new home and Jersey Mortgage Co. was recommended to me. They were able to help somebody who was getting affordable housing, whereas other lenders don’t… I've be...

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Rated with 5 stars
Verified

I highly recommend Jersey Mortgage. They are an excellent lending institution and I am very satisfied with them. When I was looking into a mortgage for investment, I saw them and ...

Read full review
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View Rates

What is Jersey Mortgage?

Jersey Mortgage is a direct mortgage lender operating out of New Jersey. The company has three locations throughout the state and also services New York and Connecticut. It’s offered financial solutions for several decades and promises attentive and experienced service. Many of its employees have been with the company for over a decade, and you can choose the loan officer that suits you — this officer will help keep you informed about your loan.

Because it’s a direct lender, it underwrites all its policies in-house, which means you won’t get stuck with hidden fees or third-party issues. Jersey Mortgage promises a seamless loan process and competitive rates and fees.

How does Jersey Mortgage work?

Jersey Mortgage offers a wide selection of financing options, but the company specializes in highly customized loans for first-time homebuyers. When applying, you can choose the office that works best for you and the loan officer you’d like to work with. Jersey Mortgage’s loan options include:

  • FHA
  • FHA 203(k) home renovation
  • USDA rural
  • VA
  • Mortgage refinancing
  • Reverse mortgage
  • Jumbo
  • Live Where You Work (LWYW)

Jersey Mortgage’s website has specifics on loan qualifications in your area. To learn more about your options, you can contact one of its loan officers.

Jersey Mortgage rates

Jersey Mortgage doesn’t have any specific costs on its website, but the company claims to offer competitive rates with no hidden fees. Factors like your credit score, home location, down payment, loan term and more affect your loan rates. You can check average market rates to get an idea of what to expect.

Jersey Mortgage FAQ

Where is Jersey Mortgage available?
Jersey Mortgage is available in Connecticut, New Jersey and New York. It has three physical locations in New Jersey: Cranford, Manasquan and Parsippany.
How can I pay my mortgage with Jersey Mortgage?
The Jersey Mortgage website doesn’t specify payment methods — contact one of the company’s loan officers to find out your options.
How long does the approval process take with Jersey Mortgage?
The company doesn’t give details on the length of its approval process. On average, this kind of process takes about 30 days.
How long does it take to close with Jersey Mortgage?
Just as with the approval process, Jersey Mortgage doesn’t specify a timeframe for closing, but it’s likely it varies by situation.

Is Jersey Mortgage good?

Jersey Mortgage seems to have what most look for in a reliable small business. Unlike major lenders, Jersey Mortgage can introduce you to each of its loan officers, many of whom have been with the company for an extended period. It promises personalized service without third-party interference or hidden fees. Overall, Jersey Mortgage is a good company to work with for your mortgage and loan needs if you’re in one of the three states it services.

Jersey Mortgage Co. Reviews

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How do I know I can trust these reviews about Jersey Mortgage Co.?
How do I know I can trust these reviews about Jersey Mortgage Company?
  • 3,431,238 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 15, 2020

Everything was explain to me in detail. I understand that I may or may not get the loan but I am willing to try hoping that I will get the loan and able to move in my dream home soon. Mr. ** was very helpful.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: June 1, 2019

I was a first-time homeowner and I didn’t know anything prior to going into this so, it was a new experience. This would be the best way for me getting my first home. There’s a lot going into purchasing a house but with Jersey Mortgage, there was no major issues at all and everything worked out fine. Sharon and Chris, the people I worked with, were helpful. They did a great job and they were very professional the whole time in the process. Overall, it was pleasant although the application and underwriting process took three months. It’s not that the people in Jersey Mortgage didn’t do their job but as the buyer, you're like that middleman, and you're trying to relay certain messages from that person to that person to this person. There should be a better communication between the Realtor, lawyer and Jersey Mortgage.

Moving forward, if I were to buy a home again, I would like to be more fluent in terms of having chain emails and to make sure I have more direction as the Jersey Mortgage and their loan officer, the real estate and the lawyer. So that when I'm not there, it would be easier for them to get in touch with each other and vice versa. Even the lawyer from the selling point of view has to maintain constant communication with the seller. Everybody should have that constant communication across the board so that there's no confusion for certain things but overall, they were informative. They told me what I needed to know, so I was able to get documents, and they were timely. Also, my interest rate wasn't too bad, but I understand I got a 203k loan which incurred a slightly higher interest rate than normal.

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    Rated with 3 stars
    Verified Reviewer Verified Buyer
    Original review: May 30, 2019

    The process with Jersey Mortgage was very convoluted. Being a first-time homebuyer, I expected a little more hand-holding and to be walked through it. It was not that they didn’t walk us through it but I felt like I was constantly following up. It was nearly everyday. I was making sure things were getting done and that my questions were getting answered. I felt like I was facilitating it myself and it was a little irritating. They also asked me for documents that I provided more than once, which was a little annoying.

    I didn’t even have to go with them. I didn’t need a mortgage broker. We got really good credit. I could’ve gone through my bank. But my realtor recommended them and I was trying to honor the referral. I chose to go with them so I expected a higher level of service. They could’ve been better with the way that they handled it and responded. For them, maybe it’s an everyday thing but it wasn’t for us. So I was a lot annoyed by the end. They weren’t bad people. It’s just that the process didn’t go the way that I would have preferred. It was a big headache and I wasn’t satisfied at all.

    I also don’t think it was just the company. I don’t know if it was just the nature of things but the process felt very fractured. It didn’t feel very seamless. In terms of the whole signing of the documents, from end to end in getting the final approval, it was probably 45 days, maybe a little more. I also could’ve gotten a slightly lower rate with my bank but it was reasonable and I’m fine with it.

    2 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 19, 2019

    Everything was super smooth with Jersey Mortgage and we had a good experience. The lending agent, Gina, was fantastic. She communicated well. If we had an issue, we emailed her and she got right back to us. I thought getting any mortgage was a pain but everything was simple. We were able to do everything online and sign. There were a million things we had to fill out and every time we thought we were done, they had other stuff for us. But I think that’s any lender and I don’t think it was a horrible experience.

    The rate was good but we could’ve done better. I had gone to my bank to get paperwork for the mortgage, and they had a much lower rate for us. But at the end of the day, we felt like we were already done, like we were at the end of the process, and we wouldn’t have wanted to start over for a cheaper rate. We could’ve gotten a better rate, but this was convenient. Gina worked well with our Realtor and made life easy. It was worth whatever we paid.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 15, 2019

    Jersey Mortgage's reps were upfront with all the costs. They were sincere in terms of what the process was and what they can do for me. I went with them and got a regular fixed rate, 30-year loan program. They had a list of all the paperwork that they needed upfront. Once those were provided, if any additional information was necessary, they came back to me with what additional information they might need. The whole process took two months and during that time, there some doubts in terms of the process and if the loan was gonna go through. My rep Garth communicated up front that everything was okay and told me to forward the additional paperwork I needed. I was really impressed with the communication. Jersey did the best they could for me given the circumstances.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 11, 2019

    I was purchasing a new home and Jersey Mortgage Co. was recommended to me. They were able to help somebody who was getting affordable housing, whereas other lenders don’t. I gave the initial numbers that they needed to know to see if I would qualify over the phone but a lot of the application was online. I've been down this road a whole bunch of times but this was my best experience. Randolph, the rep, was wonderful and great. I would give him a big thumbs-up.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 3, 2019

    I was buying a new home and used Jersey Mortgage Co. They did very well on a previous mortgage. The application process was easy. I did it in person, online, and over the phone. The loan officer was good and knew her stuff. She could explain everything clearly. She didn't leave anything behind and clarified everything before we started the loan. A lot of paperwork was pending at the same time though. But the rates and terms that I received were okay and fair. And so far, I'm satisfied with the experience.

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    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: May 1, 2019

    I wanted to buy a house and Jersey Mortgage was recommended to me by a friend of mine. The process of obtaining my mortgage was a complete disaster. We began the process back in November 2018 and I told the mortgage company, “This is what I make. This is what I can afford. This is what the budget is.” They said that everything looked good and they kept riding it on. However, they kept on giving me and the realtor the runaround. We could never get a commitment letter. We were 90 days from when we were in contract to the last extension, which was absolutely ridiculous, and I paid an extra 4,000 in per diem fees.

    My experience with Jersey Mortgage was the absolute worst. They were highly recommended, but I don’t know if they were in tune with the type of mortgage that I was getting out or they were just incompetent. Even from the first closing date, they were oblivious to everything. The 24 hours before we had the first closing date was when everybody started questioning, “Oh, no. We’re not gonna be able to close.” And then from there on, the expenses began. Jersey Mortgage recommended me to the attorney, but my attorney was oblivious to the closing date. It was almost like no one read any of the contracts and they were not doing everything that I was paying everyone should do.

    Towards the middle and towards the end, the attorney really stepped it up. It got to the point where there was a correction and I said that I would probably lose the deal with the house and that I was gonna wind up suing everybody because it was not my fault. My numbers hadn’t changed from the very beginning and I put everything on the table from the very beginning. Ultimately, we closed, which was a good thing, and now, we are in the process of renovating and looking to move in soon. Nevertheless, I would never recommend this mortgage company to anyone. I am that fed up with them.

    5 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 29, 2019

    I was looking into getting a mortgage as a first-time home buyer and I ran into one of Jersey Mortgage's representatives. He was very approachable and confident in what he was doing. The online application process was easy and the rates and terms of the mortgage that I received were fair. It was a VA loan and they had different requirements, so they were not so regular. Jersey Mortgage needed proof of termite inspection and it was a very specific form number that was needed. Jason, the rep, told us what he needed many times, but if someone had mentioned the form number, things would have progressed a little quicker and it would have been helpful.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 25, 2019

    I highly recommend Jersey Mortgage. They are an excellent lending institution and I am very satisfied with them. When I was looking into a mortgage for investment, I saw them and I signed up. Their application process was not too hard and it was pretty much a cut deal. Jersey worked with me to close my loan in a timely fashion and I’m happy with the service because I did not wait around that long. The whole process took a month or so and it was done. My loan officer was Noury and he was good. He kept in touch with me and he did well. He took the time to explain everything and was very informative. Whatever question I had, he answered them and he was really knowledgeable with them. I also felt very comfortable working with him. The rate I got was decent as well. I got 4.7 while I bought the house at 15.5%. Jersey Mortgage gave me the right mortgage which was what I needed at the moment and I am happy with their service.

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    Jersey Mortgage Co. Company Information

    Company Name:
    Jersey Mortgage Company
    Company Type:
    Public
    Year Founded:
    1988
    Address:
    511 South Avenue East
    City:
    Cranford
    State/Province:
    NJ
    Postal Code:
    07016
    Country:
    United States
    Website:
    www.jerseymortgage.com