Home equity loans in New Jersey
A fixed-rate second mortgage, or home equity loan, is a loan secured by a home that already has a first mortgage, paid out as one lump sum and repaid in equal monthly payments at a fixed rate. Your first mortgage stays exactly as it is. We offer them to homeowners in Monmouth County, along the Jersey Shore and across New Jersey.
- Direct, licensed mortgage lender
- NMLS #103098
- Equal Housing Lender
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Fidelity Residential · NMLS #103098 · Equal Housing 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).
A licensed loan officer can set a home equity loan beside a home equity line or a cash-out refinance for your New Jersey home, so you can compare them.
How a home equity loan works
You receive the whole amount at closing and repay it at a rate that does not change, over a term set at the start. Unlike a home equity line of credit there is no draw period and no variable rate; unlike a cash-out refinance the first mortgage is not replaced.
It can be arranged on its own after you have owned the home, or at the same closing as a new first mortgage. The cash can be used for any purpose; programs ask for a short explanation of what it is for.
The typical home in New Jersey is worth about 454,400 dollars, against about 332,700 dollars for the United States as a whole, and about 64 of every 100 occupied homes in the state are lived in by their owners (U.S. Census Bureau, American Community Survey 2020-2024, tables B25077 and B25003).
Who a home equity loan suits
- Homeowners who want to keep their first mortgage and take one sum against the equity behind it
- A known cost, such as a project with a fixed price or debts to combine, where a set payment is easier to plan around
- Self-employed borrowers: some programs document income with bank statements, 1099s, a prepared profit-and-loss statement or verified assets
- A primary residence, a second home and, as a business-purpose loan, a rental property; not a manufactured home
Questions from New Jersey homeowners
Do you offer home equity 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.
Home equity loan or HELOC?
A home equity loan pays one lump sum at a fixed rate; a HELOC lets you draw as you need it at a variable rate. See HELOCs and home equity loans in New Jersey.
How long does a home equity loan take to close?
Often about two to three weeks once the file is complete; smaller loans may need only an automated valuation with a property inspection.
Does my first mortgage change?
No. Your first mortgage, and its payment, stay exactly as they are.
Ready to talk about a home equity loan?
Get a quote online, or call and compare your options 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.