The Cherry Hill housing market is competitive, with a range of homes available for buyers. The median home price in Cherry Hill is $350,000, and prices vary by neighborhood and property type. Some popular neighborhoods in Cherry Hill include:

• Cherry Hill Township: A affordable and family-friendly area with a range of housing options.
• Ellisburg: A desirable neighborhood with a mix of older and newer homes.
• Springdale: A charming area with a small-town feel and a range of amenities.

At NMHL, we understand the local market conditions and can provide personalized guidance on finding the right home in Cherry Hill.

Property taxes in Cherry Hill average approximately 2.25% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $350,000 home, you can expect to pay around $7,875 per year in property taxes. Our loan officers can help you understand how property taxes will impact your mortgage payment and provide guidance on how to factor them into your homebuying decision.

New Jersey also offers a range of property tax relief programs, including the Homestead Property Tax Relief program, which can help reduce your property tax burden.

Cherry Hill is served by the Cherry Hill Public Schools district, which is highly rated and offers a range of educational programs. The district has several elementary, middle, and high schools, including Cherry Hill High School East and Cherry Hill High School West. School districts can have a significant impact on home values, so it's essential to consider them when buying a home in Cherry Hill.

Some popular schools in the Cherry Hill Public Schools district include:

• Cherry Hill High School East: A highly rated high school with a range of academic programs.
• Cherry Hill High School West: A comprehensive high school with a range of extracurricular activities.
• Thomas H. Dudley Elementary School: A highly rated elementary school with a focus on STEM education.

New Jersey offers several first-time homebuyer programs that can help make homeownership more affordable. The New Jersey Housing Finance Agency (NJHFA) offers a range of programs, including the First Time Homebuyer Program, which provides low-interest loans and down payment assistance. NMHL also offers a first-time homebuyer program, which includes a free consultation to discuss your mortgage options and a streamlined application process.

Some benefits of first-time homebuyer programs include:

• Low-interest loans: Many first-time homebuyer programs offer low-interest loans that can help reduce your monthly mortgage payment.
• Down payment assistance: Some programs offer down payment assistance, which can help reduce the amount of cash you need to close on a home.
• Streamlined application process: Many first-time homebuyer programs offer a streamlined application process, which can make it easier to get pre-approved for a mortgage.

At NMHL, we understand that not all borrowers have the same needs or financial situations. That's why we offer a range of programs designed to serve underserved borrowers, including:

• FHA loans: Our FHA loans offer more lenient credit score requirements and lower down payment options.
• VA loans: Our VA loans offer zero-down payment options and lower interest rates for eligible veterans.
• Self-employed mortgage programs: Our self-employed mortgage programs offer alternative income documentation options for self-employed borrowers.
• Bad credit mortgage programs: Our bad credit mortgage programs offer more lenient credit score requirements and alternative credit scoring options.

Our loan officers can help you explore your options and find a program that fits your needs.