For 28+ years I have helped New Jersey buyers structure financing that fits the local reality, from Bergen County jumbo buyers in Tenafly and Demarest, to Manhattan-commuter consultants needing bank statement jumbo, to first-time buyers in Hackensack and Fort Lee using NJHMFA DPA. I am Ken Clark Jr., NMLS #225375, Certified Mortgage Advisor and Branch Manager with PRMG Mortgage (NMLS #75243).
FHA-insured mortgages with 3.5% down guideline. Common in Bergen County for first-time buyers in Hackensack, Fort Lee condos, and lower-priced markets. Subject to FHA condo approval where applicable. FHA loan details →
$0 down with full entitlement, no monthly MI. PRMG is VA-approved. Bergen County has a strong veteran community given proximity to military medical facilities and federal employment. VA loan details →
Fannie Mae and Freddie Mac conforming and high-balance. Bergen County high-balance limit is approximately $1.2M+ for one-unit properties in 2026. AUS-driven (DU or LPA) eligibility rather than a fixed credit minimum. Conventional details →
For Bergen County properties above the high-balance limit. Common in Tenafly, Demarest, Saddle River, Alpine, Franklin Lakes. Typically 10-20% down, 700+ credit, reserves required. Jumbo details →
$10,000 NJHMFA DPA Loan (interest-free, forgivable after 5 years), with higher amounts in select Urban Aid municipalities. Pairs with the NJHMFA first mortgage. NJHMFA typically requires 620+ credit. NJHMFA details →
FHA 203k and Fannie Mae HomeStyle for buyers eyeing older Bergen County housing stock that needs work, common in Hackensack, parts of Englewood, and historic Ridgewood. Renovation details →
Strong fit for Bergen County's Manhattan-commuter consultant population whose tax returns understate true cash flow. Bank statement jumbo and DSCR loans for investor portfolios both available. Non-QM details →
Rate-and-term, cash-out, FHA streamline, VA IRRRL. PRMG's 5-Day HELOC for fast equity access without replacing your first. Strong NJ application given high property values and equity build. Refinance details →
New Jersey has the highest effective property tax rates in the country. Bergen County specifically averages 2.2-2.5%, with select municipalities (Tenafly, Demarest, Englewood Cliffs, Cresskill) reaching 3%+. This is fundamentally different from CA, TX, or southern markets, and it materially shifts the affordability math.
Real example: On a $850,000 Tenafly home at a 2.6% effective rate, property tax escrow alone is approximately $1,840/month, before principal, interest, insurance, or HOA. Modeling a Bergen County purchase budget without the specific town's effective rate produces surprises at closing.
Programs that help: NJ Senior Freeze (for qualifying seniors), Homestead Benefit (income-qualified), and ANCHOR property tax relief reduce the after-payment burden but do not lower the escrow amount. Always budget gross monthly with full property tax first, then layer any benefits.
Plus all 21 NJ counties through PRMG.
Fort Lee, Cliffside Park, Edgewater, Fairview, Palisades Park, Leonia, Englewood, Englewood Cliffs.
Tenafly, Demarest, Closter, Cresskill, Alpine, Norwood, Northvale, Old Tappan.
Hackensack, Teaneck, Fair Lawn, Glen Rock, Ridgewood, Paramus, Maywood, Bogota, Bergenfield.
Mahwah, Franklin Lakes, Wyckoff, Saddle River, Upper Saddle River, Ho-Ho-Kus, Allendale, Ramsey.
Rutherford, East Rutherford, Carlstadt, Lyndhurst, North Arlington, Wallington.
Bergen County has unique financing dynamics: high-cost-area conforming limits (often $1.2M+), heavy jumbo activity, NJ effective property tax of 2-3%+ that materially affects monthly payment, and a Manhattan-commuter borrower base often self-employed or with complex income. A lender familiar with these specific dynamics typically structures stronger Bergen County deals than a generic national online lender.
Bergen County is designated a high-cost area by the FHFA. The 2026 conforming high-balance limit for one-unit properties in Bergen, Hudson, and Passaic counties is approximately $1.2M+ (verify current FHFA limit). Loans above that are jumbo. Loans below the baseline (approximately $806,500) are standard conforming.
New Jersey has the highest effective property tax rates in the country, averaging 2.2-2.5% with some Bergen County municipalities reaching 3%+. On a $750,000 Bergen County home at 2.4%, property tax alone is approximately $1,500/month before P&I, insurance, or HOA. Always model your specific town's rate when budgeting.
NJHMFA DPA Loan is a $10,000 interest-free, no-payment second mortgage forgiven after 5 years (higher amounts available in select Urban Aid municipalities). It pairs with the NJHMFA first mortgage. Bergen County first-time buyers may qualify if income, credit, and property meet program guidelines. NJHMFA programs typically require 620+ credit. Subject to program funding.
Yes. Bergen County has a significant Manhattan-commuter consultant and small-business-owner population. Bank statement jumbo loans, P&L-only programs, and full-doc jumbo with add-backs are all options. The right structure depends on documentation strength, business structure, and target down payment. Eligibility subject to lender overlays and underwriting.
20 minutes on the phone. No pressure. Walk away with a clear picture of your real options, the actual property tax math for your target town, and the right loan structure.
Compliance: This page is for educational purposes only and is not a commitment to lend or guarantee of approval. Loan programs, rates, terms, eligibility, and program availability are subject to change and depend on credit, income, assets, property, occupancy, location, and underwriting. Not all borrowers will qualify. Payment, cash-to-close, and timeline references are estimates only. Individual results vary.
Equal Housing Opportunity. PRMG Mortgage. NMLS #75243. Ken Clark Jr. NMLS #225375. Licensed in 49 states; NY excluded.