Yes: in New Jersey, mortgage loan officers need a state license issued by the NJ Department of Banking and Insurance (Residential Mortgage Lenders Act, via NMLS). You can check a name yourself on NMLS Consumer Access.
Mortgage loan officers in New Jersey: what buyers ask
What first-time buyer programs does New Jersey offer?
In New Jersey, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers up to $15,000 in down payment and closing cost help in Essex County, as a no-interest loan forgiven after five years. First-generation buyers get $7,000 more, for $22,000.
What does an FHA loan require?
FHA loans need 3.5% down with a 580 credit score. Upfront mortgage insurance is 1.75% and the annual premium is 0.55% at 96.5% LTV.
Check a mortgage loan officer yourself
- License required · NJ Department of Banking and Insurance (Residential Mortgage Lenders Act, via NMLS)
- Titles you will see: Mortgage loan originator
- Check a name yourself: NMLS Consumer Access (we could not open this search page ourselves)
The 5 sectors of Newark
Central Ward · East Ward · North Ward · South Ward · West Ward