Renovation loans
One mortgage that pays for a home and the work it needs, with a single closing, based on what the home will be worth when the work is done. Renovation loans in New Jersey.
New Jersey
Construction and renovation loans in New Jersey
Renovation loans for the home you live in, and ground-up construction and rehab loans for real estate investors, with the money for the work paid out as it is done. We offer them in Monmouth County, along the Jersey Shore and across New Jersey.
- Direct, licensed mortgage lender
- NMLS #103098
- Equal Housing Lender
Start your project
Read how draws and inspections work, 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).
Which loan fits depends on whether you will live in the home or are building to sell or rent; a licensed loan officer goes through the budget and the draws with you before you buy.
What we finance
Renovation loans and investor construction loans
Which one fits depends on whether you will live in the home or are building to sell or rent.
Ground-up construction
A short-term loan for an investor who buys a lot and builds a new house, or builds on land they already own, to sell it or keep it as a rental. For business purposes only.
Fix and flip and bridge loans
Short-term financing to buy and renovate a property, then sell it or refinance it. Renovation money is released in draws as the work is done. Fix and flip loans in New Jersey.
Business purpose investor loans are for investment property only.
The basics
How draws and inspections work
- The money for the work is held back. At closing the purchase or payoff is made; the money for the work is held by the lender and paid out in stages, called draws.
- An inspector checks each stage. Before a draw is paid, an inspector confirms how much of the work is complete.
- The budget is set at the start. The work is listed line by line before closing, with a reserve for surprises; changes need the lender’s agreement first.
- Installed work is what is paid for: materials bought but not yet installed are not.
Questions
Questions about building and renovating in New Jersey
Do you offer construction and renovation loans 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.
Can I build a new home to live in with one loan?
Talk to a loan officer about your plans before you buy land or sign with a builder. The loans on this page are renovation loans, which improve a home you buy or already own, and business-purpose loans for investors who build to sell or rent.
What does an investor need for a construction loan?
The application with signed business-purpose and non-owner-occupancy statements, company documents, a list of past projects, a line-item budget, plans or a permit and a feasibility report for a new build, bank statements, the purchase contract, insurance and photo identification.
Ready to talk about your New Jersey project?
Request a quote online, or call and go through the budget 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.