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Garden State Home Loans Mortgage Review 2024

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At a glance

Garden State Home Loans
NMLS: 473163
Editor's take

Garden State Home Loans doesn’t solely work with borrowers in New Jersey; it also lends in a handful of other states, including Florida, New York, Pennsylvania and Texas. While that limits who can work with this lender, if you’re in one of its operating states, Garden State can be a smart choice if you’re looking for dedicated service — including a loan officer available nights and weekends — and swift closings.

Bankrate Score
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3.6
Rating: 3.6 stars out of 5
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Bankrate Score

Customer Rating
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5.0
Rating: 4.98 stars out of 5

562 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Credit Good

Min. credit score required

640 for conventional loans

Location

Nationwide availability

Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Pennsylvania, Tennessee, Texas and Virginia

Dollar Coin

Min. down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans or USDA loans

At a glance

Garden State Home Loans

NMLS: 473163

3.6

Rating: 3.6 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Location

Nationwide Availability

Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Pennsylvania, Tennessee, Texas and Virginia

Credit Good

Min. credit score required

640 for conventional loans

Garden State Home Loans overview

Headquartered in Cherry Hill, New Jersey, Garden State Home Loans has funded $5.6 billion in loans since its founding in 2011. The lender offers preapprovals online, typically in 24 hours or less, and its purchase loans close in an average of 21 days to 23 days (and as few as 11 days, in some cases), faster than the industry average and potentially sooner compared to other lenders.

Pros and cons of Garden State Home Loans

Pros
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    Convenient online chat feature to connect with loan officers

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    Closings on purchases can take as little as 11 days

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    A+ Better Business Bureau rating

Cons
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    Available primarily on the East Coast

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    Rates only available on sign-up

Our Editor’s Take on Garden State Home Loans

Garden State Home Loans doesn’t solely work with borrowers in New Jersey; it also lends in a handful of other states, including Florida, New York, Pennsylvania and Texas. While that limits who can work with this lender, if you’re in one of its operating states, Garden State can be a smart choice if you’re looking for dedicated service — including a loan officer available nights and weekends — and swift closings.

How Bankrate scored Garden State Home Loans

  • Affordability: Garden State Home Loans’ rates are very competitive compared to Bankrate’s averages (as of this review), especially if you’re able to purchase points upfront. You’ll need to subscribe to learn what rates you might qualify for, however. The lender’s fees vary by loan type.
  • Availability: This lender does business in 13 states, including Florida, New York, Pennsylvania and Texas.
  • Borrower experience: Garden State Home Loans offers an accessible chat feature on its website, and its loan officers have a wide range of business hours.

Affordability: 6.6/10

Garden State Home Loans boasts attractively low rate offers on different kinds of mortgages. The lender charges fees, but you won’t receive all-in cost details specific to your situation unless you share your contact information.

Availability: 6.6/10

Garden State Home Loans is based in New Jersey and works with borrowers in several East Coast states, Michigan, Tennessee and Texas. The lender offers both conventional loans and government-backed loans (FHA, VA and USDA), as well as jumbo loans for higher-priced properties. In addition, it offers some specialty products for investors like debt service coverage ratio (DSCR) loans and other non-qualified (non-QM) loans. Generally, you’ll need a credit score of at least 640 to be eligible for a conventional loan, but there are also loan options for those with scores as low as 580.

Borrower experience: 8.6/10

Since being established in 2011, Garden State Home Loans has funded $5.6 billion in mortgages for tens of thousands of borrowers. The lender is accredited by the Better Business Bureau and has an A+ rating from the organization. You can apply for a preapproval (and your loan) online through the Garden State Home Loans website. You can also track the progress of your loan through the lender’s online portal, and ask questions via chat. The lender is available Monday through Friday from 8 a.m. to 7 p.m. ET, and 10 a.m. to 2 p.m. ET on weekends. You can also make an appointment with a loan officer outside those hours, if needed.

How to apply for a mortgage with Garden State Home Loans

You can apply for a mortgage with Garden State Home Loans online or by phone at 877-830-0943. Here are some tips to prepare for the process:

  1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
  2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
  3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with Garden State Home Loans

Garden State Home Loans offers both rate-and-term and cash-out refinancing options.

Compare Garden State Home Loans to other lenders

Garden State Home Loans
Rating: 3.6 stars out of 5
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3.6

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Valley Bank
Rating: 4.4 stars out of 5
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4.4

Bankrate Score
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Read full review
TD Bank
Rating: 3.9 stars out of 5
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3.9

Bankrate Score
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Read full review

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Min. credit score required

640 for conventional loans

Min. credit score required

Undisclosed

Min. credit score required

620 for conventional loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans or USDA loans

Down payment

3% for conventional loans; 3.5% for FHA loans; none for VA loans and USDA loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans

Nationwide availability

Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Pennsylvania, Tennessee, Texas and Virginia

Nationwide availability

All U.S. states

Nationwide availability

Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and Washington, D.C

Garden State Home Loans customer ratings and reviews

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NMLS: 473163

5.0

Rating: 4.98 stars out of 5

562 ratings

Info

This lender has 8 recent reviews.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5
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4 stars
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1 star
99%
1%
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99% of customers would recommend this lender.

of 8 reviews

The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.

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