Middletown Township, Monmouth County

Middletown, NJ mortgages and home equity

For Middletown homeowners and buyers: home equity lines and loans that keep your first mortgage as it is, refinancing, and purchase loans for your next home. Fidelity Residential is a direct, licensed mortgage lender with a New Jersey office on Route 36 in West Long Branch.

Get a quote Call 732-686-9999

Read what borrowers say

Direct, licensed mortgage lender
NMLS #103098
Equal Housing Lender

Start with your goal

Use your equity, change your mortgage, or move.

Fidelity Residential · NMLS #103098 · Equal Housing Lender

Middletown housing

A town of owner-occupied houses

Middletown Township has about 66,900 residents and about 25,700 homes, according to the Census Bureau’s American Community Survey estimates for 2020 to 2024.

Who lives there

Mostly owners

An estimated 85.7 percent of occupied homes are lived in by the people who own them.

The homes

Mostly single houses

An estimated 77.6 percent of homes are single detached houses.

When they were built

Mostly built from 1950 to 1989

About 70 percent of homes were built between 1950 and 1989. The 1950s alone account for an estimated 23.1 percent, more than any other decade.

Mortgages

Most owners have a mortgage

Of about 21,600 owner-occupied homes, an estimated 67.2 percent have a mortgage.

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.

Home equity

Borrow against your home and keep your mortgage

If your first mortgage has terms you want to keep, a second loan behind it may fit better than replacing it. Both options below sit behind your first mortgage, which stays exactly as it is.

Draw as you go

Home equity line of credit (HELOC)

A revolving line, with a limit set from the equity in your home. During the draw period you draw what you need, and the required payment covers only the interest on what you have drawn; then a repayment period begins. The rate is variable and moves with a published index, so the payment can change.

Run the HELOC calculator

One lump sum

Home equity loan

The whole amount at closing, repaid in equal monthly payments at a rate that does not change, over a term set at the start. The cash can be used for any purpose; programs ask for a short explanation of what it is for.

Run the home equity loan calculator

Work on the house

Paying for work on an older house

If your house is one of the many built between 1950 and 1989 and it needs work, how the work will be paid for points to the loan.

Paid in stages. A renovation paid as the work is done fits a line of credit you draw on as you go.
A fixed price. A project with a fixed price, or debts to combine, fits one lump sum with a set payment.
A new first mortgage. A cash-out refinance replaces your mortgage with a larger one and pays you the difference, which can go to home improvements. The new loan is limited to a share of the home’s current value, so some equity stays in the home.
Buying one that needs work. If you are buying a home to live in, an FHA renovation loan can pay for repairs or renovation with the same loan. See renovation loans.

Refinance or move

Changing your mortgage, or buying your next home

Refinance

Change the loan you have

A refinance is a new mortgage that pays off the one you have, to change the interest rate, the length of the loan or both, or to move from an adjustable to a fixed rate. Weigh what it costs against the change in your payment.

Refinance options

Your next home

Moving up or moving on

Conventional, FHA, VA and jumbo loans. A jumbo loan is for a loan larger than the conforming limit set each year for the county; each program sets its own rules for the down payment, credit and the savings you keep after closing.

Home purchase loans

Self-employed

Business owners

For business owners whose tax returns do not show what they really earn, bank statement loans look at bank statements instead. We also offer bank statement HELOCs.

Bank statement loans in New Jersey

Questions

Questions from Middletown homeowners

Do you lend in Middletown?

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.

Should I take a HELOC or do a cash-out refinance?

A cash-out refinance replaces your first mortgage with a larger one. A HELOC or a home equity loan sits behind your first mortgage, which stays exactly as it is. If you want to keep the terms of the mortgage you have, a second loan behind it may fit better. A loan officer can compare both for your home.

Does my first mortgage change if I open a HELOC?

No. A HELOC or a home equity loan sits behind your existing first mortgage, which stays exactly as it is.

Can I open a home equity line when I buy my next home?

Yes. A line or a home equity loan can be opened at the same closing as a new first mortgage on a purchase or refinance, or on its own after you have owned the home.

I am self-employed. Can I still borrow against my home?

Yes. We offer bank statement HELOCs for self-employed borrowers, and some home equity loan programs also accept bank statements, 1099s, a prepared profit-and-loss statement or verified assets.

Talk with a loan officer near you

Get a quote online, or call us and talk it through with a licensed loan officer.