NMLS #2560393Licensed mortgage broker in New Jersey
Two- to four-family stock, historic suburbs and city neighborhoods — financed with the right program for each.
AI REMCO L.L.C. is a licensed mortgage broker (NMLS #2560393) based in Oldwick, in Tewksbury Township, working with Essex County borrowers online and by phone. The owner, Lawrence Higgins, MS, CFM is the person you talk to. Essex files range from condos and two-to-four family buildings to higher-value homes in Livingston and Millburn, and in almost every town the property tax bill is a real part of what you qualify for.
Essex County covers more range than almost any county in New Jersey. Newark is the state's largest city, with a housing stock built heavily around two-to-four unit buildings; Montclair, Glen Ridge, Maplewood and South Orange are established commuter towns on the Midtown Direct line with older architecture and strong demand; Livingston, Millburn, Short Hills and Essex Fells sit at the top of the price range; Irvington, East Orange and Orange are largely first-purchase and small-investor markets.
One county, four or five genuinely different financing conversations. A three-family in the North Ward, a 1920s center-hall colonial in Montclair and a new-construction home in Livingston have almost nothing in common from an underwriting standpoint, and the program that fits one is rarely the program that fits another.
Multi-unit housing is the defining feature. Owner-occupied two-to-four unit purchases are one of the most useful paths into ownership in Newark, the Oranges and Bloomfield, because a portion of the rent from the other units can support qualification. The rules on how much counts, and what documentation is required, differ by program and by whether you will live in the building.
The Midtown Direct towns behave like their own market. Proximity to a station in Maplewood, South Orange, Millburn or Montclair supports pricing that appraisers handle by drawing comparables tightly around the line, and inventory moves quickly enough that appraisal timing and lock strategy matter more than in slower markets.
Essex has a great deal of pre-1978 housing, which brings appraisal considerations that are specific rather than theoretical: paint condition, roof life, heating systems, knob-and-tube wiring and separated utilities in converted buildings. FHA and VA appraisals apply property standards conventional appraisals do not, and a file that would close cleanly one way can require repairs the other.
Investor activity is heavy throughout the county's urban core, ranging from owner-occupants buying their first multi-family to established landlords adding buildings. For a conventional investment-property loan, we review personal income, existing mortgage obligations, documented rent and cash reserves together.
Most Essex County files land in one of a few programs: FHA loans in Essex County, Conventional loans in Essex County and First-time home buyer financing in Essex County. Business owners can start with a self-employed mortgage documented from returns or bank statements, and first-time buyers should read how New Jersey down payment assistance pairs with a first mortgage.
Loan limit figures published by the Federal Housing Finance Agency for 2026 — fhfa.gov conforming loan limits. Last reviewed 2026-09-05. For reference only.
Sources: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates; FHFA House Price Index, county annual, 2025; FEMA OpenFEMA, National Flood Insurance Program data, as of August 2026. Public estimates for the county as a whole, for general information only; they are not an appraisal, a tax figure for any property or a prediction.
Government and Freddie Mac data, updated as each source publishes.
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Sources: Consumer Financial Protection Bureau, HMDA data (loans originated); U.S. Census Bureau, Building Permits Survey; Freddie Mac House Price Index (FMHPI). Figures describe the past and are for general information only; they are not an appraisal, a forecast or an offer of credit.
Midtown Direct service through Maplewood, South Orange and Millburn is a major driver of demand in those towns.
AI REMCO L.L.C. is based in Oldwick, NJ, in Tewksbury Township, and serves borrowers throughout Essex County — we do not maintain a branch office in every county we serve.
Owner-occupied multi-unit purchases can use FHA or conventional financing, and a share of the rent from the other units may support qualification. Non-owner-occupied purchases move to conventional investment-property financing. How much rent counts, and what documentation supports it, varies by program.
Much of Essex County's housing predates 1978. FHA and VA appraisals flag peeling paint, roof condition, heating and safety items as conditions to resolve before closing. Knowing which standard applies before the appraisal is ordered keeps the timeline realistic.
Older houses converted to two or three units sometimes share a single meter or heating system. Lenders and appraisers treat that differently depending on the program and the number of units, and it can affect both eligibility and the appraised value.
Essex includes some of the highest effective property tax burdens in the country alongside far lower ones a few miles away. Taxes are escrowed and counted in the qualifying payment, so we use the actual figure for the parcel.
Walkability to a station drives value in Maplewood, South Orange, Millburn and Montclair. Appraisers select comparables tightly around that geography, and a home just outside the radius can appraise differently from one inside it.
Newer downtown Newark condominium projects and older converted buildings both exist here. Project reserves, investor concentration and insurance are reviewed alongside the borrower, and some conversions are non-warrantable under agency rules.
Essex is a heavy first-time-buyer county. State assistance, employer programs and lender credits can sometimes be combined with a first mortgage, but each has its own eligibility rules and not every combination is permitted. We confirm the pairing before you rely on it.
Buildings needing work before they are habitable do not fit standard purchase financing. Renovation-specific programs exist, run on their own timelines and require contractor documentation and draws — worth identifying before you write an offer.
New Jersey property taxes are set at the municipal level and vary widely between neighboring towns, so two similarly priced homes can carry very different monthly payments. Lenders escrow taxes and insurance in most cases, which means the tax bill affects both the payment and the income you need to qualify. We use the actual assessed figure for the parcel rather than a county average, and any figure we quote before the tax collector's current bill is confirmed is an estimate.
New Jersey closings are attorney-review based on the contract side and involve title search, survey where required, recording fees and the state's realty transfer fee on a sale. Those third-party costs are set by the provider, the county clerk and the state — not by the broker — and appear on the Loan Estimate and Closing Disclosure the lender issues.
Documents, the appraisal, credit review, rate locks and refinancing work the same way in every county: see how the mortgage process works.
Essex County is a high-cost area for 2026: its one-unit conforming limit of $1,209,750 sits above the national baseline of $832,750. A loan up to that county limit is still conforming here, so buyers can finance more before jumbo credit, reserve and appraisal guidelines apply.
Heavily used across Newark, Irvington, East Orange and Bloomfield, including owner-occupied multi-unit purchases.
The standard path in Montclair, Maplewood, Bloomfield and the suburban towns.
Essex County is one of New Jersey's busiest first-purchase markets.
NJHMFA programs pair with a first mortgage for eligible Essex County buyers.
Required across Millburn, Short Hills, Livingston and Essex Fells price points.
For self-employed borrowers and non-warrantable condominium projects.
Used by long-tenured owners funding renovation on older housing stock.
The 2026 FHFA one-unit conforming loan limit in Essex County is $1,209,750. Loan amounts at or below that figure follow conventional conforming guidelines; above it, the loan is a jumbo and is underwritten to the investor's own credit, reserve and appraisal requirements.
Yes — owner-occupied two-to-four unit purchases are among the most common transactions in Essex County, and both FHA and conventional financing support them. A portion of the rent from the other units may help you qualify. The specifics depend on the program and the documentation available for the existing rents.
It varies by program, by whether you will occupy a unit, and by what documentation exists — signed leases, tax returns showing rental history, or the appraiser's market-rent analysis. We look at the actual building and structure the file around what it supports.
Many do. FHA and VA appraisals apply property standards conventional appraisals do not, and common findings on pre-1978 housing include paint condition, roof life and safety items. Those become conditions to resolve rather than automatic declines, but they affect timing, so it is worth anticipating them.
Yes. AI REMCO L.L.C. is licensed throughout New Jersey and handles files across all of Essex County, from Newark multi-family purchases to Short Hills jumbo financing. The program differs; the licensing does not.
Shared utilities and single-meter setups affect how the property is classified and appraised, and lenders treat them differently by program. It does not necessarily prevent financing, but it should be identified before the appraisal rather than after.
Often, but each assistance program sets its own eligibility rules and not every combination is permitted with every first mortgage. We verify that the specific pairing is allowed before you count on it.
All of them. AI REMCO L.L.C. is licensed as a mortgage broker in New Jersey and works with borrowers anywhere in Essex County, including municipalities not listed on this page. Files are handled remotely from Tewksbury, New Jersey — there is no Essex County branch office.
Yes. Taxes and insurance are part of the housing expense a lender counts, so a higher tax bill reduces the loan amount a given income supports. We use the parcel's actual assessed figure where available, and treat pre-closing figures as estimates.
Reach a licensed loan officer at (732) 561-4292 or [email protected]. Mon–Fri, 9am–8pm ET.
Verified against public program guidance as of September 2026.
