For Princeton owners who bought with cash or have paid the mortgage off: how delayed financing can return cash soon after a cash purchase, and the ways to borrow against a home with no loan on it. Fidelity Residential is a direct, licensed mortgage lender with a New Jersey office on Route 36 in West Long Branch, in Monmouth County, and we lend across New Jersey.
Pick the closest, or call and talk it through.
Fidelity Residential · NMLS #103098 · Equal Housing Lender
About 30,800 people live in Princeton, in about 9,900 homes, by the Census Bureau’s American Community Survey estimates for 2020 to 2024. Owners and renters are not far apart: an estimated 55.4 percent of occupied homes are owned and 44.6 percent rented.
Of about 5,100 owner-occupied homes, an estimated 46.3 percent, about 2,400, have no mortgage at all. The Census Bureau puts the median value of owner-occupied homes at about $1,050,600.
Fidelity Residential is a direct mortgage lender licensed in New Jersey under a Residential Mortgage Lender License. Our office is at 121 NJ-36, Suite 230, West Long Branch, in Monmouth County; we do not have an office in Princeton, and we lend across New Jersey.
Source: US Census Bureau, American Community Survey 5-year estimates, 2020 to 2024. Estimates, not counts.
Most cash-out refinances expect you to have owned the home for some months first. A home recently bought with cash is one of the exceptions: a path called delayed financing can let you refinance soon after closing and take money back, treated as a cash-out.
What it needs. The purchase was at arm’s length, a genuine sale between unrelated parties; the home has no other liens on it; and the money you paid can be traced on paper, whether it came from savings or was borrowed against something else.
How much can come back. The new loan can return up to what you documented paying, and like any cash-out loan it is held to a share of the home’s current value, so some equity stays in. You may not recover every dollar.
The window. The program sets how soon after the purchase you must apply, so check your purchase date against it early. If you are past it, a standard cash-out refinance once the usual waiting period has passed may serve you just as well.
With no loan on the home, a new loan becomes the first mortgage on it. Each option is secured by the home, so weigh the total cost, not just the cash or the monthly payment.
A revolving line with a limit set from your equity; on a home you own outright it can be in first position. You draw what you need, and the rate follows a published index, so the payment can change.
How a HELOC worksPlaces a new mortgage on a home with no loan on it and pays you at closing, with a fixed or an adjustable rate. The usual limits on value, credit and income apply.
Cash-out refinancesIf you do not need the money, keeping the home with no loan on it can be the sound choice. Borrow when the money has a clear use.
Weighing a line against a lump sum? Our HELOC vs cash-out refinance page sets the two side by side.
Clean paperwork is what makes these loans move. After a cash purchase, the trail of the money matters most; on a home owned for years, the appraisal of its current value and your income do.
Your income is documented the usual way, with pay stubs and W-2s, or tax returns if you are self-employed; some programs can use bank statements or assets instead.
How you hold title, and the tax side of the money you take out, belong with your attorney and your CPA or tax adviser.
Yes. Fidelity Residential is a dba of PFN Lending Group, Inc. (NMLS #103098), which holds a New Jersey Residential Mortgage Lender License, and we lend across New Jersey. You can check the licence on NMLS Consumer Access (opens in a new tab).
No. Our office is at 121 NJ-36, Suite 230, West Long Branch, NJ 07764, in Monmouth County, and we lend across New Jersey. Call 732-686-9999 to talk with a licensed loan officer.
With delayed financing, within a window after the purchase that the program sets, instead of waiting out the usual period. Check your purchase date against it early.
Not always. The loan can return up to what you documented paying, and it is held to a share of the home’s current value, so some equity stays in.
Yes. If you own the home outright, the line can be in first position. A cash-out refinance can also place a new mortgage on a home with no loan on it.
No. If you do not need the money, leaving the home with no loan on it can be the sound choice. When you do borrow, compare the total cost of each option first.
Get a quote online, or call us and talk it through 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.