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 typically happen within 30 days.
Borrowers in select states who want a fairly quick closing process and loan officers who can respond seven days a week
- Rate-and-term and cash-out refinancing
- Home equity loan
- Construction and renovation loans
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 purchase price.
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.
Garden State Home Loans is accredited by the Better Business Bureau. It has an A+ rating and all five-star reviews from six customers (as of August 2021).
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’ loan offerings, but there are a few exceptions that will accommodate a score as low as 580. In the midst of the pandemic, the lender says that there are 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.
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Breakdown of Garden State Home Loans overall review score
- Affordability: 13/15
- Availability: 12/15
- Borrower experience: 10/10
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.