Mortgages in Camden County, NJ

If you’re looking to buy a home in Camden County, New Jersey, we can help you, whether you’re applying for your first home mortgage or you’ve been down this road before and are looking to relocate.

We can also help you consider all your home mortgage options. If you need mortgage assistance in Camden County, our affordable Mortgage program provides low fixed-rate mortgages to buy a home in low to moderate-income areas.

Our down payment assistance program can help you consider your affordable mortgage options, with support from federal, state, and county subsidies such as New Jersey’s First Generation Down Payment Assistance Program and Camden County’s First-Time Homebuyer Program.

We can assist you through navigating the mortgage and homebuying process.

The Types of Mortgages Available in Camden County

Your mortgage options in Camden County include loans from 1st Colonial Bank, government-backed mortgages, and those for veterans. Here are your mortgage options for the Camden County area:

Conventional Home Mortgages

Conventional mortgages are the most common type of mortgage loan in Camden County. Banks issue them and often provide more flexible terms than government-backed mortgages.

A down payment of at least 20% is ideal, but you might obtain a conventional mortgage with a down payment as low as 3%. A conventional mortgage with a down payment of less than 20% will require private mortgage insurance (PMI) that you could pay upfront or add to the cost of your mortgage.

One of the benefits of a conventional mortgages (as well as FHA and VA) is the lending decisions are made here in the Tri County area, and there’s much less paperwork involved than government-backed loans.

FHA Home Loans

FHA loans provide low down payments for those with less-than-perfect credit. The home you buy must be your primary residence. FHA loan maximums vary by location and the type of property you wish to buy. You can check the FHA’s mortgage limits online.

VA Home Loans

Mortgages backed by the Veterans Administration are available to active-duty troops and military veterans of our Armed Forces, including the National Guard and reserves. Surviving spouses may also be eligible for VA-backed loans and can check to determine eligibility with VA.GOV.

You can verify your eligibility for one of these loans and obtain a Certificate of Eligibility (COA) from the U.S. Department of Veterans Affairs. VA mortgages can be obtained with no down payment and no need for private mortgage insurance. Unless they’re exempt, borrowers must pay a VA Funding Fee which can be financed in the loan amount.

USDA Loans

USDA home loans, backed by the U.S. Department of Agriculture, also known as rural development loans, are available in certain areas, which you can verify through the USDA’s website.

These mortgages require no down payment and offer a 30-year term, with no mortgage insurance required, but there is a guaranty fee. The maximum income limit for borrowers is 115% of your county’s median income where the home is purchased, see FDIC for more info.