A mortgage loan is an advance of funds from a lender to a borrower for the purchase of real estate. The mortgage itself is a legal document that sets forth the conditions of the loan, the manner and duration of repayment, and which pledges the borrower’s property (home) as security for the loan.

As with any major purchase, it pays to shop around when looking for a mortgage loan. Different lenders will offer different terms, have different requirements, and offer varying levels of service.

"Predatory lending" has become shorthand for describing a variety of lending practices that may be disadvantageous to borrowers. It can mean any type of abusive lending practice where the lender benefits through unworthiness, deceit, misrepresentation, bad faith, or dishonesty.

Be sure to work with a licensed lender (try DOBI's Licensee Search) and use the tools below when shopping for a mortgage loan.

• Everything You Wanted to Know About Buying a Home (PDF)
  • Home Shopping Guide (PDF)
• Predatory Lending: What Consumers Should Know
  • Predatory Lending Warning Signs
  • Summary of NJ Statute
• What Interest Rate Should I Pay? (PDF)

• Frequently Asked Questions
• Glossary of Mortgage Terms
• Financial Institutions with Offices in NJ (Including addresses, phone numbers, holding company names (where applicable) and links to institution and primary regulator web sites)
• Consumer Credit Bill of Rights
• Get Your Free Credit Report
• How to "Freeze" Access to Your Credit Files

• How to Find Public Information About Financial Institutions
• NJ Division of Taxation Unclaimed Property Search (Find unclaimed financial institution funds)
• Financial and Insurance Information for Seniors

• So You Want to Get a Mortgage Loan (PDF)
• Protect Yourself Against Predatory Lending (PDF)
• Protect Yourself Against Frauds and Scams (PDF)
• Using Credit Scores for Insurance in NJ (PDF)
• How to Select Your Bank Account (PDF)
• NJ Consumer Checking Accounts (PDF)
• What is the Division of Banking? (PDF)
• How to File Your Complaint (PDF)