Hackensack's housing market is competitive, with a range of homes available from $300,000 to over $1 million. The city's downtown area has seen significant development in recent years, with new condos and apartments being built. Surrounding neighborhoods offer more affordable options, including single-family homes and townhouses. At NMHL, we have expertise in Hackensack's local market and can help you navigate the homebuying process.

Some popular neighborhoods in Hackensack include:

• Downtown Hackensack: vibrant atmosphere with shops, restaurants, and entertainment options
• Fairview: suburban feel with easy access to the city
• Teaneck: family-friendly neighborhood with good schools

Property taxes in Hackensack average approximately 2.20% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $420,000 home, you can expect to pay around $9,240 per year in property taxes. It's essential to consider property taxes when calculating your overall housing costs.

New Jersey also offers several property tax relief programs, including the Homestead Exemption Program, which can help reduce your property tax liability.

Hackensack has a well-regarded school district, with several schools receiving high ratings. The Hackensack Public Schools system serves students from kindergarten to 12th grade, with a range of extracurricular activities and sports programs available. Good schools can have a positive impact on home values, making it essential to consider the school district when buying a home.

Some popular schools in Hackensack include:

• Hackensack High School: highly rated public high school
• Middle School: range of extracurricular activities and sports programs
• Elementary Schools: several highly rated schools in the district

New Jersey offers several first-time homebuyer programs, including the New Jersey Housing Finance Agency's (NJHFA) First-Time Homebuyer Program. This program provides low-interest mortgages and down payment assistance to eligible buyers. NMHL also offers specialty programs for first-time homebuyers, including FHA loans with lower down payment requirements.

Some benefits of first-time homebuyer programs include:

• Lower down payment requirements
• Competitive interest rates
• Down payment assistance

At NMHL, we understand that not all borrowers have a perfect credit history or a traditional income. That's why we offer a range of specialty programs for underserved borrowers, including:

• FHA loans for borrowers with lower credit scores
• VA loans for eligible veterans
• Self-employed loan programs

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