For veterans, service members, Reserve and National Guard members and certain surviving spouses in Burlington County: who can use the benefit, the Certificate of Eligibility and the funding fee, the VA appraisal, and VA refinances. Fidelity Residential is a direct, licensed mortgage lender with a New Jersey office on Route 36 in West Long Branch, in Monmouth County, and we lend across New Jersey.
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Fidelity Residential · NMLS #103098 · Equal Housing Lender
Burlington County has about 467,800 residents and about 186,300 homes, in the Census Bureau’s American Community Survey estimates for 2020 to 2024. About three occupied homes in four, an estimated 76.1 percent, are owned by the people who live in them.
An estimated 6.5 percent of civilian adults, about 24,000 people, are veterans, and about 5,000 residents aged 16 and over, an estimated 1.3 percent, serve in the Armed Forces.
The median value of owner-occupied homes is estimated at about $354,000.
Fidelity Residential is a direct mortgage lender licensed in New Jersey under a Residential Mortgage Lender License. Our office is at 121 NJ-36, Suite 230, West Long Branch, in Monmouth County; we do not have an office in Burlington County, and we lend across New Jersey.
Source: US Census Bureau, American Community Survey 5-year estimates, 2020 to 2024. Estimates, not counts.
A VA loan is made by the lender and partly backed by the Department of Veterans Affairs: VA promises to repay the lender part of its loss if the loan is not repaid. That promise is what lets the loan be made with no down payment in most cases and no monthly mortgage insurance.
Veterans discharged under conditions other than dishonorable, service members still serving, Reserve and National Guard members, and certain surviving spouses can use the benefit. Service rules have many exceptions, so VA, not the lender, decides eligibility.
VA does not set the interest rate; you and the lender agree on it.
The certificate tells you whether you are eligible, how much of your benefit is available and whether the funding fee applies to you. In most cases we can ask VA for it on your behalf, and if VA wants proof of your service, we let you know what to send.
Most borrowers pay a one-time funding fee, which can be added to the loan. It depends on your down payment and whether you have used the benefit before, and veterans receiving compensation for a service-connected disability, among others, do not pay it.
It values the home and lists any repairs needed to meet VA’s property standards; it is not a home inspection, so VA recommends one. If the price is above the value, you can pay the difference, renegotiate or cancel under the VA clause in your contract.
VA loansWith either option, the new loan must give you a clear benefit, and a VA loan being refinanced must have been in place for a minimum period first.
It usually needs no appraisal or income check, must pass VA’s benefit test and gives no cash back; the lender may still ask for a value estimate and a credit score. Closing costs can be included in the new loan.
Refinancing your mortgageA new VA loan can replace a VA loan or any other mortgage and pay you cash from your home’s value, to use as you choose. The home must be where you live.
Cash-out refinancesYes. Fidelity Residential is a dba of PFN Lending Group, Inc. (NMLS #103098), which holds a New Jersey Residential Mortgage Lender License, and we lend across New Jersey. You can check the licence on NMLS Consumer Access (opens in a new tab).
No. Our office is at 121 NJ-36, Suite 230, West Long Branch, NJ 07764, in Monmouth County. Call 732-686-9999 to talk with a licensed loan officer.
In most cases, no down payment is needed. A veteran who has used part of the benefit before and not had it restored may need one on a larger loan; your Certificate of Eligibility shows how much of the benefit is available.
Yes. The benefit can usually be restored once the home is sold and the loan paid off, and in some cases once without selling. Your loan officer can check your certificate.
A statement of service if VA asks for proof of service, and your leave and earnings statement or recent pay stubs and W-2 forms for your income.
VA loans can be assumed by a later buyer if the servicer agrees. If the buyer is not a veteran using their own benefit, your benefit stays tied to that loan until it is paid off.
Get a quote online, or call us and talk it through with a licensed loan officer.
This page is general information, not a commitment to lend. Programs, terms and eligibility depend on credit, income, 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.