Blog

By SEO TEAM July 18, 2025
Staging's Impact on Bergen County Home Prices
By SEO TEAM July 7, 2025
Navigating Your First Home Purchase in Bergen County: Understanding Mortgage Options for New Buyers 
By SEO TEAM July 7, 2025
Understanding Mortgage Options for New Buyers Now let’s break down the most common mortgage types and what they mean for you as a first-time homebuyer. 1. Conventional Loans Best for: Buyers with strong credit and stable income. Typically require a 5–20% down payment Offer competitive interest rates May require private mortgage insurance (PMI) if you put down less than 20% More flexibility in terms of home types and locations Why it works in Bergen County: Many homes in Bergen are priced higher than the national average, so having strong credit and a conventional loan can give you an edge in competitive markets. 2. FHA Loans (Federal Housing Administration) Best for: Buyers with lower credit scores or smaller down payments. Down payments as low as 3.5% Easier credit qualifications Requires upfront and annual mortgage insurance premiums (MIP) Bergen County note: FHA loans are subject to county-specific loan limits. As of 2025, the FHA limit in Bergen County for a single-family home is higher than the national average due to the area's cost of living. 3. VA Loans (Veterans Affairs) Best for: Veterans, active-duty service members, and some surviving spouses. No down payment required No PMI Competitive interest rates Must meet service eligibility requirements Why it works in Bergen County: VA loans make it easier for eligible buyers to afford homes in high-demand areas without large upfront costs. 4. USDA Loans (U.S. Department of Agriculture) Best for: Buyers in rural or less densely populated areas. Zero down payment Competitive interest rates Income limits apply Must buy in eligible locations Limitations: USDA loans may not be available in more urbanized parts of Bergen County, but some outlying areas could qualify. 5. Jumbo Loans Best for: Buyers purchasing luxury homes above the conforming loan limits. Typically required for homes priced over $1,089,300 in Bergen County (as of 2025) Stricter credit and income requirements May require larger down payments (15–20%) Why it works: Bergen County’s high-end markets (like Saddle River or Alpine) often exceed standard loan limits, making jumbo loans essential for certain buyers. Choosing the Right Mortgage: Key Considerations 1. Down Payment Capability How much cash do you have available? If it's less than 10%, FHA might be a better fit. With 20% or more, a conventional loan could offer long-term savings. 2. Credit Score Your credit score impacts the interest rate you receive. A score of 740+ generally secures the best rates. 3. Employment & Income Stability Lenders want to see steady employment and a manageable debt-to-income (DTI) ratio. 4. Loan Term Most buyers choose between: 30-year fixed: Lower monthly payments, higher total interest 15-year fixed: Higher monthly payments, less interest overall Adjustable-rate mortgages (ARMs): Lower initial rates, but they can change over time 5. Property Type Condos and townhomes may have special financing requirements, including HOA approvals and reserves. Your mortgage advisor should be familiar with these nuances in Bergen County. Bergen County-Specific Mortgage Tips Shop Local Lenders: Some Bergen-based lenders offer incentives for first-time buyers, including grants or reduced fees. Account for Property Taxes: Bergen County has some of the highest property taxes in New Jersey, so factor this into your monthly payment. Research First-Time Buyer Programs: New Jersey offers programs like the NJHMFA First-Time Homebuyer Program , which provides down payment assistance and below-market rates. Final Thoughts: Confidence Through Preparation Buying your first home in Bergen County is a journey that requires careful planning—but with the right guidance, it's one of the most rewarding experiences you'll ever have. Understanding your mortgage options is the key to making informed decisions that suit your financial situation and long-term goals. At Christian Distasio Real Estate , we specialize in helping first-time buyers navigate the Bergen County market with clarity and confidence. Whether you’re unsure of how much house you can afford or curious about the best neighborhoods for young professionals, we’re here to help every step of the way. Ready to find your dream home in Bergen County? Contact Christian Distasio today for expert real estate guidance and trusted lender recommendations.
By SEO TEAM April 25, 2025
First-Time Homebuyer’s Guide
By SEO TEAM April 25, 2025
Bergen County Real Estate Market: Insights and Strategies
By SEO TEAM April 9, 2025
Seasonal Selling: Pros and Cons of Listing Your Home in Different Seasons
By SEO TEAM April 9, 2025
Luxury Living: Exploring High-End Properties in Bergen County
Two men are shaking hands in an office.
By Christian DiStasio May 15, 2024
Introduction
A large brick house with two garages and stairs
By Christian DiStasio May 15, 2024
Dive into the essentials of residential properties with our guide. Learn about various property types, their features, and investment advantages to find the perfect match for your needs and goals

Is Bergen County a Buyers or Seller Market?

Find out in this detailed Bergen County real estate market report including: Market Summary & Review , Homes Sold By Price, Days On Market By Price, Median Home Values and much more.

Read Report Now (no download)
The di stasio report 2019 real estate market results bergen county nj

Have a Real Estate Question? 

WE'VE GOT ANSWERS FOR BUYERS AND SELLERS. GIVE US A CALL.

Leave us a Note - 

Contact Us

A white logo for a christian disability group on a white background.

Call Now
90 COUNTY ROAD
TENAFLY, NJ 07670
T: 201 568 5668