The Best Mortgage Lenders in Asbury Park, NJ
Compare verified mortgage lenders serving Asbury Park, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Asbury Park
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage
Movement Mortgage is a top-rated lender with a strong local presence in the Jersey Shore area, including Asbury Park. Known for its exceptional customer service, competitive rates, and efficient loan processing, the company has built a reputation for reliability and transparency. With over 15 years of experience, they offer a wide range of loan products and prioritize personalized service, making them a favorite among homebuyers in Monmouth County. Their high ratings and numerous positive reviews highlight their commitment to customer satisfaction and community involvement.
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New American Funding
New American Funding
New American Funding is a highly reputable mortgage lender with a significant presence in New Jersey, serving Asbury Park and surrounding areas. They are praised for their diverse loan options, including programs for first-time homebuyers and underserved communities, and their ability to offer competitive rates and flexible terms. With 20 years of experience, they have a track record of excellent customer service, backed by strong reviews highlighting their responsiveness and expertise. Their local office in Iselin ensures personalized support for clients in the region.
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AnnieMac Home Mortgage
AnnieMac Home Mortgage
AnnieMac Home Mortgage is a well-established lender with a strong regional footprint in New Jersey, including service to Asbury Park. They are recognized for their comprehensive loan offerings, competitive pricing, and dedication to customer education and support. With over two decades of experience, they have built a loyal client base through transparent processes and reliable service. Their high customer ratings and positive feedback emphasize their ability to handle complex mortgage scenarios efficiently, making them a trusted choice for homebuyers in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Asbury Park, NJ
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Asbury Park, NJ?
Yes, Asbury Park homebuyers can access statewide NJHMFA programs, including the First-Time Homebuyer Mortgage Program and the Down Payment Assistance (DPA) program, which offers up to $10,000. Additionally, it's wise to check with the Asbury Park Housing Authority or local community development organizations, as they occasionally offer city-specific grants or educational workshops for qualifying buyers.
How does Asbury Park's status as a coastal city affect the mortgage process?
Purchasing a home in Asbury Park's flood zones, especially in the low-lying areas near the ocean or Sunset Lake, typically requires separate flood insurance as a mandatory condition of the mortgage. Lenders will require a flood certification, and this added insurance cost must be factored into your debt-to-income ratio, which can impact how much home you can qualify to finance.
What are typical property taxes for a home in Asbury Park, and how do they impact mortgage affordability?
Asbury Park has a relatively high effective property tax rate, currently around 2.8%. For a $500,000 home, annual taxes could be approximately $14,000. Lenders will include this significant monthly escrow payment in your total housing expense, which can substantially reduce the maximum loan amount you qualify for compared to areas with lower tax rates.
Are there specific loan programs or considerations for buying a historic home or a condo in Asbury Park's redeveloped areas?
Yes, buying a condo in one of the many new or converted buildings downtown (like those near the boardwalk) requires lender approval of the condo association's finances and insurance, which can sometimes cause delays. For historic homes, especially in the "Old Asbury Park" district, renovation loans like the FHA 203(k) can be useful, but you must ensure any renovations comply with local historic preservation guidelines.
How competitive is the mortgage pre-approval process in Asbury Park's housing market?
Asbury Park's market can be competitive, especially for single-family homes and renovated properties. A strong pre-approval from a reputable local lender is crucial. Sellers often favor buyers who use lenders familiar with the city's unique aspects, such as condo project approvals and flood zone requirements, as this can lead to a smoother and more reliable closing process.
Nearby Cities
Explore mortgage lenders in cities near Asbury Park, NJ
Why Choose a Mortgage Lender in Asbury Park?
Local Market Knowledge
Lenders who understand Asbury Park's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in New Jersey.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Asbury Park and get competitive rates on your home loan.