Garden State Home Loans Mortgage Review 2022

Garden State Home Loans overview

Headquartered in Cherry Hill, New Jersey, Garden State Home Loans has funded more than $4 billion in loans for more than 20,000 borrowers since its founding in 2011. The lender offers preapprovals online, and closings on a purchase typically happen within 20 to 40 days.

Good for

Borrowers in select states who want a fairly quick closing process and loan officers who can respond seven days a week

Loan types

• Conventional
• Jumbo
• FHA
• VA
• USDA
• Fixed-rate
• Adjustable-rate
• Rate-and-term and cash-out refinancing
• Home equity loan
• Construction and renovation loans

Lender fees

Garden State Home Loans does not provide lender fee information on its website, but does claim to have “very minimal fees and low overhead.” Fees can vary by loan type, but are typically 1 percent to 2 percent of the home’s purchase price.

Rates

You won’t find mortgage rates publicly listed on the Garden State Home Loans website. Instead, you need to complete a request form. The lender does indicate that rates for condos are approximately 0.125 percent to 0.250 percent higher than rates for single-family homes.

Online services 

The Garden State Home Loans website offers an online application process, and you’ll be able to track the progress of your loan using the company’s online portal. There is a suite of calculators available, too.

Minimum borrower requirements

You’ll need a minimum credit score of 640 for most of Garden State Home Loans’ offerings, but there are a few exceptions that will accommodate a score as low as 580. Currently, there might be additional requirements for anyone with a credit score below 700, namely having more verifiable assets in a checking or savings account.

Refinancing with Garden State Home Loans 

Garden State Home Loans offers rate-and-term and cash-out refinancing. The refinance rates and fees are not available online. 

Not sure if Garden State Home Loans is right for you? Consider these alternatives

• Goodmortgage review: Available in more places and accepts lower credit scores
• Rocket Mortgage review: More widespread availability and high customer satisfaction scores from J.D. Power
• CFBank mortgage review: Similar credit score requirements and no underwriting or origination fees
• Allied Mortgage Group review: Licensed in many more states (but not all) and can work with self-employed borrowers
• SoFi mortgage review: Can assist you with your home loan as well as all aspects of your personal finances

Breakdown of Garden State Home Loans overall review score

• Affordability: 4/5
• Availability: 5/5
• Borrower experience: 5/5

Review methodology

To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.