FHA VS Conventional loan programs in 2025 for Summit, Union County, New Jersey
In the calendar year 2025, the cap for conventional loans in the city of Summit, located in the county of Union, NJ, is designated as $1,089,300. Meanwhile, the FHA loan limit for a single-family residential property is set at $1,089,300.
For a detailed evaluation, utilize the Lendersa® Conventional loan calculator to assess and compare today's leading rates among Conventional, FHA, and USDA loans. Thoroughly examine the necessary income levels, credit profiles, reserves, and documentation needed to qualify. By using our advanced mortgage calculator, you are able to see Conforming Conventional loans alongside USDA, FHA, and VA loan programs simultaneously, enabling an informed decision on the most suitable option available in NJ tailored to your particular financial standing.
Comprehensive Loan Limits and Down Payment Criteria for 2025 in Summit, Union, NJ
Loan Type
Loan Limit
Down Payment
Conventional Conforming
$1,089,300
3%
USDA
$0
0%
FHA
$1,089,300
3.5%
This table of comparisons accurately applies to the following zip codes: 07901, 07902
Available Loan Options: Conventional and FHA in Summit, NJ
The fundamental objective of Lendersa® is to facilitate the process of obtaining the best available Conventional, USDA, or FHA loan expeditiously and with reduced hassle. Choose from three initial pathways to effectively match yourself with apt lenders and corresponding loan programs.
RateCloud, and we’ve made it our mission to bring that passion to the mortgage space so homebuyers and homeowners get a smoother, more cost-efficient mortgage experience.From start to finish, we give you the power to facilitate your own mortgage transaction. Typically, this role would be reserved for a loan officer.
Meridian is an innovative community bank providing a comprehensive array of financial services to businesses, professional practices and individuals in PA, NJ, DE and MD. In addition to a broad-based commercial lending portfolio, specialties include SBA lending, commercial and consumer real estate financing, residential mortgages, private banking
101 Lindenwood Drive, Suite 225, Malvern, PA, 19355
Spring Mill Financial is a full service mortgage broker. We offer conventional, FHA, VA, USDA, Jumbo and reverse mortgages. If you are purchasing, refinancing, or looking to draw equity from your home, Spring Mill Financial can help! NMLS 1854510broker. We offer conventional, FHA, VA, USDA, Jumbo and reverse mortgages.
101 Lindenwood Drive Suite 225, Malvern, PA, 19355
National Mortgage Group offers a wide variety of competitive financing options. We specialize in Conforming, FHA Government Insured, Jumbo Loans, VA, Commercial and much more. National Mortgage Group has experienced tremendous success by providing exceptional customer service and a wide range of competitive mortgage
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Founded in 1871 in Honesdale, PA, Wayne Bank has 26 community offices serving Northeast Pennsylvania, along with Delaware and Sullivan Counties in New York State. Wayne Bank also operates offices as Bank of the Finger Lakes and Bank of Cooperstown in Ontario, Seneca, Yates, and Otsego Counties in New York State.
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Founded in 1836, The Honesdale National Bank is the oldest, locally-owned, community bank headquartered in Northeastern PA with offices in Wayne, Pike, Susquehanna, Lackawanna, & Luzerne counties. Visit www.hnbbank.bank/about/convenient-locations/ for locations & hours. HNB offers full-service personal & business banking and safe deposit boxes.
