The home’s current value
An appraisal sets the value, and the new loan can be only a set share of it. The share is lower for second homes, rentals and homes with more than one unit.
New Jersey
Cash-out refinance in New Jersey
A cash-out refinance replaces your mortgage with one new, larger mortgage and pays you the difference at closing. We offer cash-out refinances to homeowners in Monmouth County, along the Jersey Shore and across New Jersey.
- Direct, licensed mortgage lender
- NMLS #103098
- Equal Housing Lender
Start your cash-out refinance
See how it works and how it compares, 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).
A licensed loan officer can set a cash-out refinance beside a home equity line or a second mortgage for your New Jersey home, so you can compare them before you choose.
The basics
How a cash-out refinance works
At closing, the new loan pays off the old mortgage and any other debts you choose to clear. Closing costs can be paid from it too, and the rest comes to you. On your main home, a federal right to cancel applies before the money is released.
The new loan is limited to a share of the home’s current value, so some equity stays in the home. Because the new loan is larger and secured by your home, weigh the total cost over the life of the loan, not just the cash you receive or the monthly payment.
The typical home in New Jersey is worth about 454,400 dollars, against about 332,700 dollars for the United States as a whole, and about 64 of every 100 occupied homes in the state are lived in by their owners (U.S. Census Bureau, American Community Survey 2020-2024, tables B25077 and B25003).
What matters
What lenders look at
Each program sets its own limits. These are the questions every cash-out refinance answers.
How long you have owned it
Most programs want you on title for some months. There are exceptions for an inherited home, one received in a divorce and a home recently bought with cash.
Credit, income and debts
Credit is pulled and income is documented, with pay stubs and tax returns or, in some programs, bank statements or assets.
Questions
Questions from New Jersey homeowners
Do you offer cash-out refinances 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.
Cash-out refinance or a home equity line?
A cash-out refinance replaces your mortgage with one new loan; a home equity line or a fixed-rate second mortgage sits behind it and leaves your first mortgage in place. See HELOCs and home equity loans in New Jersey.
How long does a cash-out refinance take?
Often about three to four weeks to closing. On your main home, the three-day federal right to cancel follows the signing before the cash is paid out.
Can I take cash out of a New Jersey rental?
Yes. A DSCR loan can take cash out of a rental you own, based on its rent.
Ready to talk about your home equity?
Get a quote online, or call and compare your options 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.