Many large houses
An estimated 51.0 percent of homes have nine rooms or more, and 23.0 percent have five or more bedrooms.
Holmdel Township, Monmouth County
Jumbo loans and larger-home mortgages in Holmdel, NJ
For Holmdel buyers and homeowners with a larger house in mind: jumbo loans, a fixed or an adjustable rate, and other ways to document income when a paycheck is not the whole story. Fidelity Residential is a direct, licensed mortgage lender with a New Jersey office on Route 36 in West Long Branch.
- Direct, licensed mortgage lender
- NMLS #103098
- Equal Housing Lender
What are you planning?
Pick the closest, or call and talk it through.
Fidelity Residential · NMLS #103098 · Equal Housing Lender
Holmdel housing
Large houses, most of them owned
Holmdel Township has about 17,400 residents and about 6,500 homes, according to the Census Bureau’s American Community Survey estimates for 2020 to 2024. An estimated 91.6 percent of occupied homes are lived in by their owners.
Houses and townhouses
An estimated 77.1 percent of homes are single detached houses, and 15.2 percent are single-family homes attached to their neighbors, such as townhouses.
The 1990s most of all
An estimated 27.3 percent of homes were built in the 1990s, more than in any other decade.
Many own outright
Of about 5,900 owner-occupied homes, an estimated 42.8 percent have no mortgage at all.
Source: US Census Bureau, American Community Survey 5-year estimates, 2020 to 2024. Estimates, not counts.
Fidelity Residential is a direct mortgage lender licensed in New Jersey under a Residential Mortgage Lender License. Our local office is at 121 NJ-36, Suite 230, West Long Branch.
Larger loans
What makes a loan jumbo
A jumbo loan is a home loan larger than the conforming limit set each year for the county. Because the agencies do not buy it, each jumbo program writes its own rules.
Is your loan jumbo? Compare the loan amount, not the price, with the conforming limit for the county and the number of units. The limit changes each year, and a loan officer can check it for your address.
What programs look at. Each program sets its own rules for the down payment, credit and the savings you keep after closing, and the rules tighten as the loan grows. Most programs ask for full income documents, and larger loans may need two appraisals.
No mortgage insurance. Jumbo programs do not charge mortgage insurance, whatever the loan-to-value.
Which home. A jumbo loan can finance a main home or a second home. See jumbo loans for higher-priced homes.
Fixed or adjustable
How a jumbo loan can be set up
Fixed rate
A fixed rate keeps principal and interest the same for the life of the loan.
Fixed rate loansAdjustable rate
An adjustable rate is fixed for a set number of years and then can change, so the payment can rise. Some jumbo programs are offered mainly or only with an adjustable rate. Before you choose one, ask for the highest payment the caps allow.
How adjustable rates workPortfolio adjustable-rate loans
Some lenders keep loans on their own books and set their own rules. That can help with homes and borrowers other jumbo programs turn down, such as some condominiums. These loans are adjustable, so the payment can rise, and income, assets and credit are still fully documented.
Portfolio ARM loans
Your income
When a paycheck is not the whole story
Most jumbo programs document income in full, with pay stubs and W-2 forms, or personal and business tax returns if you are self-employed. Some accept bank statements or asset-based income instead.
Asset-based loans
Your verified savings, investments and retirement accounts can count in place of, or as well as, a paycheck. Your accounts stay in your name; nothing is pledged and nothing has to be sold.
Asset-based loans in New JerseyAlternative documentation
If your tax returns do not show your real income, there are programs that look at bank statements or assets instead. They have their own rules; ask a loan officer whether one fits.
Alternative documentation loansDoctor and dentist loans
Physicians and dentists have a dedicated program of their own, a mortgage built around a medical career.
Doctor and dentist loansNone of these is a stated-income loan: income, credit, assets and the home are all verified.
Questions
Questions from Holmdel buyers and homeowners
Do you lend in Holmdel?
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 the licence on NMLS Consumer Access (opens in a new tab).
Where is your office?
Our office is at 121 NJ-36, Suite 230, West Long Branch, NJ 07764. Call 732-686-9999 to talk with a licensed loan officer.
How do I know if my loan is jumbo?
Compare the loan amount, not the price, with the conforming limit for the county and the number of units. The limit changes each year. A loan officer can check it for your address.
Do jumbo loans carry mortgage insurance?
No. Jumbo programs do not charge mortgage insurance, whatever the loan-to-value. Each program sets its own rules for the down payment, credit and the savings you keep after closing.
Why do jumbo programs ask for savings after closing?
Without an agency behind the loan, programs want to see that you could keep making payments through a rough patch. The amount grows with the size of the loan.
Can a jumbo loan have an adjustable rate?
Yes. Jumbo loans can be fixed or adjustable, and some jumbo programs, and loans a lender keeps on its own books, are offered mainly or only with an adjustable rate. With an adjustable rate the payment can rise after the fixed period, so ask for the highest payment the caps allow.
Talk with a loan officer near you
Get a quote online, or call us and talk it through with a licensed loan officer.
What happens next
- Tell us about your loan. A few quick questions about the property and the loan you want. No credit check to start and no obligation.
- A licensed loan officer reviews your answers and follows up with you, usually within one business day.
- This is a request for a quote, not a loan application and not a commitment to lend.
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.