Non-QM & Self-Employed Mortgages in New Jersey

About 408,872 people work for themselves across the New Jersey counties in our data, and lenders reported 1,346 first mortgages there in 2024 with interest-only, balloon or other features that fall outside the Qualified Mortgage rules. This page covers the New Jersey rules self-employed and non-QM borrowers ask about, every program by state, and local pages for 243 cities and towns.

Self-employed or outside the box in New Jersey?

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New Jersey rules and records to know

Mortgage licensing: New Jersey Department of Banking and Insurance
Business entity records: New Jersey Department of the Treasury, Division of Revenue & Enterprise Services
CPA licensing: New Jersey State Board of Accountancy
Professional license lookup: New Jersey Division of Consumer Affairs License Verification System
Condo buyers: New Jersey condominiums are governed by the Condominium Act and the Planned Real Estate Development Full Disclosure Act, enforced in part by the Department of Community Affairs' Bureau of Homeowner Protection. The state's role over owner-controlled associations is limited mainly to dispute-resolution procedures, open meetings, and owners' access to association accounting records, so buyers should review the association's own documents and finances directly.
Foreclosure process: Judicial: the New Jersey Judiciary states that foreclosure is a judicial process in New Jersey, with contested cases decided by a Superior Court Chancery judge.
Recording taxes and fees: Realty Transfer Fee (RTF) on deeds, paid to the county recording officer when the deed is presented for recording; plus the separate 'mansion tax' on higher-priced residential transfers, paid by the buyer.

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Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.

Non-QM programs in New Jersey

Larger New Jersey cities

https://www.nj.gov/dobi/banklicensing/rmla/mortloanorigin.html
https://www.nj.gov/dca/hmfa/homebuyers-and-renters/homebuyers/
https://www.nj.gov/treasury/taxation/lpt/rtffaqs.shtml
https://www.njcourts.gov/sites/default/files/resforeclosure.pdf
https://nj.gov//treasury//taxation/relief.shtml
https://www.njportal.com/DOR/businessrecords/
https://njconsumeraffairs.gov/acc
https://njconsumeraffairs.gov/pages/verification.aspx
https://www.nj.gov/dca/divisions/codes/offices/faq_assoc.pdf