Your Certificate of Eligibility
It shows whether you are eligible, how much of the benefit is available and whether you pay the funding fee. We can usually request it from VA for you; if VA needs proof of service, we tell you what to send.
VA loans
Neptune Township, Monmouth County
VA and FHA loans in Neptune Township, NJ
For Neptune Township veterans, renters ready to buy, and owners with a VA or FHA loan: how the two government-backed programs work, what the appraisal checks on an older home, and the streamline refinances. 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
Which fits you?
Pick the closest, or call and talk it through.
Fidelity Residential · NMLS #103098 · Equal Housing Lender
Neptune Township housing
Owners and renters, and many older homes
Neptune Township has about 28,300 residents and about 12,800 homes, according to the Census Bureau’s American Community Survey estimates for 2020 to 2024. An estimated 70.2 percent of occupied homes are lived in by their owners, and 29.8 percent, about 3,400 households, by renters.
About 1,100 adult residents are veterans, an estimated 4.8 percent of residents 18 and over.
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.
The homes
- Single houses: an estimated 65.5 percent of homes are single detached houses, and 11.3 percent are attached to their neighbors, such as townhouses
- Two to four units: about 9 percent of homes are in buildings of two to four units
- Older homes: about 45 percent were built before 1960, and an estimated 22.3 percent in 1939 or earlier
- Smaller homes: about four homes in ten have two bedrooms or fewer
- Mortgages: of about 8,000 owner-occupied homes, an estimated 66.3 percent have a mortgage
Source: US Census Bureau, American Community Survey 5-year estimates, 2020 to 2024. Estimates, not counts.
For those who served
Buying with a VA loan
A VA loan is a mortgage for eligible veterans, service members, Reserve and National Guard members and certain surviving spouses, made by a lender and partly backed by the Department of Veterans Affairs. It can buy a home you will live in, including a home of up to four units when you live in one. The interest rate is agreed between you and the lender; VA does not set it.
The VA funding fee
There is no monthly mortgage insurance. Most borrowers pay a one-time VA funding fee, which can be added to the loan. It depends on your down payment and whether you have used the benefit before. Veterans receiving compensation for a service-connected disability, and some others, are exempt.
The value notice
VA assigns the appraiser, and you receive a notice of the home’s value. If the price is above that value, you can pay the difference, renegotiate or cancel under the VA clause in your contract.
Renting to owning
Buying with an FHA loan
An FHA loan is a mortgage on the home you live in, made by a private lender and insured by the Federal Housing Administration, that accepts smaller down payments and lower credit scores than most conventional loans. FHA loans are not only for first-time buyers.
Houses, small multi-unit homes and condos
A house, a house with more than one unit when you live in one of them, or a condominium that meets FHA’s rules for its project. The home must be your main residence.
FHA loans in New JerseyTwo mortgage insurance premiums
An upfront premium, usually added to the loan, and an annual premium paid with your monthly payment. Your loan estimate shows both in dollars.
FHA loansThe county loan limit
FHA sets a loan limit for each county, and your loan must fit the limit for the county where the home is. Your loan officer gives you the current figure before you start making offers.
The money you bring to closing can come from your own savings, a documented gift, or a down payment assistance program from a government agency that FHA allows; the assistance is usually a second loan with its own terms. See down payment assistance.
Older homes
What the appraisal checks on an older home
Both programs look at the home itself, not only its value, so ask early how the age and condition of a home affect the loan.
FHA. The home must meet HUD’s safety and soundness standards, which the FHA appraiser checks. Repairs may be required before closing.
VA. The appraisal 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 home needs work. If you are buying a home to live in and it needs work, an FHA renovation loan can pay for repairs or renovation with the same loan, with the money for the work paid out as it is done. See renovation loans.
Before you make an offer. Ask for the current property tax bill, because taxes are part of the monthly payment, and get an insurance quote, with flood insurance if the home needs it.
Already own
Refinancing a VA or FHA loan
VA streamline refinance
VA’s Interest Rate Reduction Refinance Loan 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.
VA loansVA cash-out refinance
Replace a VA loan or any other mortgage with a new VA loan and take cash from your home’s value for any purpose. You must live in the home.
Cash-out refinanceFHA Streamline refinance
Already have an FHA loan? The FHA Streamline refinance needs less paperwork and no appraisal, and it must give you a real benefit.
Refinance options
Questions
Questions from Neptune Township buyers and homeowners
Do you lend in Neptune Township?
Yes, and in Neptune City, a separate borough. 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.
Can I use my VA benefit more than once?
Yes. The benefit can usually be restored once the home is sold and the loan paid off, and in some cases restored once without selling. Ask your loan officer to check your certificate.
Is the VA funding fee the same for everyone?
No. It depends on your down payment and whether you have used the benefit before, and some borrowers are exempt. Your loan estimate shows the amount.
Are FHA loans only for first-time buyers?
No. Any buyer can use an FHA loan, as long as the home will be their main residence and the loan fits FHA’s rules and the county loan limit.
Can I buy a two- to four-unit home with an FHA or VA loan?
Yes, when you live in one of the units. An FHA loan can finance a house of one to four units when you live in one of them, and a VA loan can buy a home of up to four units when you live in one.
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.