Living on savings and investments
New Jersey retirees, or people recently retired, buying a home nearer family or the Shore, or refinancing the one they have. Your accounts can stand in for a paycheck, on their own or alongside a pension.
New Jersey
Asset-based mortgages in New Jersey
An asset-based mortgage is an ordinary home loan where your verified savings, investments and retirement accounts can count in place of, or as well as, a paycheck. We offer them across New Jersey from our office in West Long Branch and our licensed branch in Manalapan.
- Direct, licensed mortgage lender
- NMLS #103098
- Equal Housing Lender
Start with your accounts
See how your assets could count, then talk it through.
Fidelity Residential · NMLS #103098 · Equal Housing Lender
Local lender
Why work with a New Jersey lender
Fidelity Residential is a direct mortgage lender licensed in New Jersey under a Residential Mortgage Lender License. Our New Jersey office is at 121 NJ-36, Suite 230, West Long Branch, and our licensed branch is at 1 Yorktowne Drive, Manalapan (branch NMLS ID #2103558).
An asset-based loan turns on the detail of your accounts: which ones you hold, how each kind is counted, and what you need to keep for closing. It helps to go through your statements with a licensed loan officer who can meet you in Monmouth County or talk by phone wherever you are in New Jersey.
Who it suits
Who it suits in New Jersey
People whose savings tell a stronger story than their paycheck.
After a sale, or with uneven income
Owners who sold a business and now hold substantial verified savings, or whose business income varies. Assets can count on their own or on top of income you document.
Small income, large balances
Buyers whose income looks small next to what they have saved, including people between jobs. Your accounts stay in your name; nothing is pledged and nothing has to be sold.
How it works
How an asset-based mortgage works
- The home is the collateral. Your bank, brokerage and retirement accounts stay yours, and you do not have to withdraw the money.
- Three ways to count assets: as a monthly income through asset depletion, through a test of the assets left after closing with no income figure, or added to wages or a pension.
- Complete statements, every page, for each account you want counted, with a short note on any large or unusual deposit.
- Underwritten as usual: credit, housing payments, the appraisal and the property are checked, and balances are confirmed again shortly before closing.
- Mostly for the home you live in. Some programs also allow a second home or a rental property.
Want the detail? Our asset-based mortgage guide explains each method and the documents to gather, and the assets-as-income calculator shows the methods side by side using your own balances.
Questions
Questions from New Jersey borrowers
Do you lend on asset-based mortgages in New Jersey?
Yes. Fidelity Residential is a dba of PFN Lending Group, Inc. (NMLS #103098), which holds a New Jersey Residential Mortgage Lender License. You can check it on NMLS Consumer Access (opens in a new tab).
Where are you located?
Our office is at 121 NJ-36, Suite 230, West Long Branch, NJ 07764, and our licensed branch is at 1 Yorktowne Drive, Manalapan, NJ 07726. Call 732-686-9999 to talk with a licensed loan officer.
Do I have to sell or pledge my investments?
No. The lender reads your statements; it does not hold your accounts. The home secures the loan, as with any mortgage.
Can my retirement accounts count?
Usually, yes, along with bank and brokerage accounts. Each program treats each kind of account in its own way, and some count only part of its value. You send the plan’s withdrawal terms with your statements.
Does the calculator decide my loan?
No. The calculator is an estimate of how the methods could treat the balances you enter. Underwriting sets the method and the final figures after a full review.
Talk about an asset-based loan in New Jersey
Get a quote online, or call and go through your accounts with a licensed loan officer.
This page is general information, not a commitment to lend. Programs, terms and eligibility depend on credit, income, assets, property and underwriting review and are subject to change without notice.
Reviewed by Robert Shamie, CEO, NMLS #241428 · Last reviewed:
Fidelity Residential (PFN Lending Group, Inc., NMLS #103098) is a direct mortgage lender licensed in 40 states and the District of Columbia, with 26 years in business.