The Best Mortgage Lenders in Oakhurst, NJ
Compare verified mortgage lenders serving Oakhurst, New Jersey. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Oakhurst
Featured Mortgage Lenders
Michael DeGennaro
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Toms River branch, led by Senior Loan Officer Michael DeGennaro, is highly rated for serving the Oakhurst area with exceptional customer service and competitive rates. With over two decades of experience, this branch specializes in guiding clients through the entire mortgage process with personalized attention. They offer a comprehensive range of loan products and are particularly noted for their expertise with first-time homebuyer programs and streamlined refinancing options.
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OceanFirst Bank
OceanFirst Bank has been serving the New Jersey shore community for over a century, including Oakhurst residents. As a established regional bank with deep local roots, they offer competitive mortgage rates and personalized service. Their mortgage specialists provide local underwriting and decision-making, which often results in faster closings. OceanFirst is particularly strong in construction lending and home equity products, with multiple nearby branches for convenient in-person service.
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Investors Bank (now part of Citizens Bank)
While recently acquired by Citizens Bank, the former Investors Bank continues to serve the Oakhurst area with their experienced local mortgage team. With nearly a century of community banking experience in New Jersey, they offer competitive rates and exceptional customer service. Their mortgage specialists have deep knowledge of the local Monmouth and Ocean County markets and provide a wide range of loan options with local processing and underwriting support.
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Frequently Asked Questions
Common questions about mortgage lending in Oakhurst, NJ
What are the typical down payment requirements for buying a home in Oakhurst, NJ, given its market?
In Oakhurst's competitive real estate market, a 20% down payment is standard to avoid private mortgage insurance (PMI) and strengthen your offer. However, many local lenders offer conventional loans with as little as 3-5% down, and FHA loans with 3.5% down are common for first-time buyers. Given the median home price, buyers should be prepared for a substantial down payment amount, even at a lower percentage.
Are there any specific first-time homebuyer programs or grants available for Oakhurst, NJ residents?
Yes, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers several statewide programs, like the First-Time Homebuyer Mortgage Program and the Down Payment Assistance Program, which are accessible to Oakhurst buyers. These can provide competitive interest rates and forgivable loans for down payment and closing costs. It's also wise to check with local Ocean Township or Monmouth County offices for any additional community-specific initiatives.
How do property taxes in Oakhurst impact my mortgage qualification and monthly payment?
Oakhurst, as part of Ocean Township, has property tax rates that are a significant factor in Monmouth County. Lenders will calculate your debt-to-income ratio including these taxes, which can be $10,000+ annually on a typical home. This means your monthly escrow payment will be substantially higher, so you may qualify for a lower principal loan amount compared to areas with lower taxes.
What type of mortgage is most common for the older housing stock found in many Oakhurst neighborhoods?
For Oakhurst's many homes built in the mid-20th century, a standard conventional mortgage is most common. However, if you're considering a major fixer-upper, an FHA 203(k) Rehabilitation Loan or a conventional renovation loan (like Fannie Mae's HomeStyle) can be crucial, as they finance both purchase and repairs. A thorough home inspection is especially important given the age of many properties.
How competitive is the mortgage rate environment for buyers in Oakhurst compared to the national average?
Mortgage rates in Oakhurst align closely with national averages, as they are set by broader financial markets. However, your specific rate will depend heavily on your credit profile, down payment, and the lender. Working with a local lender familiar with the Monmouth County market can sometimes provide more competitive terms or insights into timely rate locks, which is vital in a fast-moving market like Oakhurst's.
Nearby Cities
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Why Choose a Mortgage Lender in Oakhurst?
Local Market Knowledge
Lenders who understand Oakhurst'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 Oakhurst and get competitive rates on your home loan.