From the beaches of Long Beach Island to Point Pleasant Beach, Bay Head, Mantoloking, Lavallette and Seaside Park, Ocean County offers some of the most desirable summer and year-round communities along the New Jersey Shore.
Whether you're purchasing a beach house for your family, a second home for summer weekends, an investment property, or a primary residence near the coast, Capital Funding Mortgage Associates, Inc. can help you understand your mortgage options.
We work with borrowers throughout Ocean County and the New Jersey Shore, offering access to conventional, jumbo, second-home, investment-property, DSCR, bank-statement and other specialized mortgage programs.
Buying a shore property can be different from financing a typical primary residence. How you intend to use the home, the property's location, insurance requirements, rental activity and property type can all affect the financing.
Our goal is to help you understand those differences before you make an offer.
For generations, Ocean County has been a destination for families who want to spend summers along the New Jersey coast.
Some buyers are looking for a place where their family can spend weekends and vacations. Others want a property they can eventually use in retirement. Some buyers are purchasing homes primarily as rental investments, while others are relocating to the shore permanently.
Those different goals can require very different mortgage strategies.
At Capital Funding Mortgage, we'll discuss how you plan to use the property and help determine which financing options may fit your situation.
Long Beach Island, commonly known as LBI, is one of Ocean County's best-known summer destinations.
The island stretches through a collection of distinctive beach communities, including:
From quieter residential areas on the north end of the island to the restaurants, shops and activity surrounding Beach Haven, buyers can find everything from traditional shore cottages to newly constructed luxury homes.
The price range can also vary substantially depending on location, proximity to the ocean or bay, property size and condition.
For higher-value LBI properties, jumbo mortgage financing may be required when the loan amount exceeds applicable conforming loan limits.
We can help you compare jumbo mortgage options as well as conventional, second-home and investment-property financing.
At the northern end of Ocean County's shoreline are several highly desirable beach communities.
Point Pleasant Beach combines a traditional Jersey Shore atmosphere with beaches, a boardwalk and residential neighborhoods that attract both year-round residents and summer homeowners.
Nearby Bay Head and Mantoloking offer a different type of coastal market, with distinctive residential properties and many higher-value homes.
Buyers considering these communities may need to evaluate:
Because no two shore transactions are exactly alike, we prefer to review the complete scenario rather than simply quote an interest rate.
Continuing south along the barrier island, Ocean County includes popular summer communities such as Lavallette, Seaside Heights and Seaside Park.
These areas have long attracted vacationers and second-home owners because of their proximity to the Atlantic Ocean and Barnegat Bay.
The type of financing appropriate for a property can depend heavily on how you intend to use it.
A home being purchased for your family's personal use may be treated differently from a property that will primarily operate as a rental.
We'll help you understand those distinctions before you choose a mortgage program.
A Jersey Shore house doesn't automatically qualify as a second home simply because you intend to use it during the summer.
Mortgage guidelines generally consider factors such as the borrower's intended occupancy and the way the property will be used.
If the property legitimately qualifies as a second home, traditional second-home financing may be available.
This can be an attractive option for buyers who:
We'll review your intended use of the property before recommending the appropriate financing structure.
Many desirable shore properties carry price tags that can result in loan amounts above standard conforming limits.
That's where jumbo mortgage financing becomes particularly important.
Jumbo lenders can differ considerably in their requirements for:
As a mortgage broker, we can review available options rather than limiting you to a single bank's mortgage program.
This can be especially valuable when financing a higher-priced property in communities such as Long Beach Island, Bay Head, Mantoloking and other Ocean County shore locations.
Ocean County isn't only a vacation-home market.
We also help borrowers purchasing and refinancing primary residences throughout communities such as:
Brick, Toms River, Stafford Township, Barnegat, Point Pleasant, Manahawkin and surrounding Ocean County areas.
Whether you're moving to the shore full-time, downsizing, relocating for retirement or purchasing your first home, we can help you evaluate available mortgage programs.
Buying a home near the water can involve considerations that aren't present with every mortgage transaction.
Depending on the property, these may include:
These issues don't necessarily prevent a property from being financed, but they're worth considering early rather than discovering them shortly before closing.
If you're seriously considering a particular shore property, contact us before making an offer and we can discuss potential financing considerations.
Not every Ocean County vacation property is a detached single-family home.
Condominiums and townhomes can also be attractive choices for buyers who want a shore property without some of the maintenance associated with a detached home.
Mortgage approval for a condominium, however, can involve both the borrower and the condominium project itself.
Depending on the mortgage program, the lender may need information regarding the condominium association, insurance, project finances and other factors.
If you're considering a condo at the shore, it's helpful to discuss financing early in the process.
Getting pre-approved can be especially helpful when you're shopping in a competitive shore market.
Before making an offer, we can help you determine:
Knowing this information before finding the perfect shore house can make the purchasing process much easier.
If you've already received a mortgage quote or Loan Estimate from another lender, you're welcome to send it to us for comparison.
Don't assume that the lender offering the lowest advertised rate necessarily has the least expensive mortgage.
We can help you compare:
The goal is to understand the overall financing, not simply one number.
We also help homeowners refinance primary residences, second homes and qualifying investment properties throughout Ocean County.
Reasons for refinancing may include:
Before refinancing, we'll help you compare the potential benefits with the cost of obtaining the new loan.
There's something different about buying a home at the shore.
For many families, a shore property isn't simply another piece of real estate.
It's where children and grandchildren spend summers, where friends gather on weekends, and where family traditions can continue for years.
For others, a Jersey Shore property represents a long-term investment, future retirement home, or combination of personal enjoyment and financial planning.
Whatever your reason for purchasing, the mortgage should support what you're trying to accomplish.
At Capital Funding Mortgage, we'll take the time to understand your plans and help you evaluate financing that fits those goals.
If you're considering buying or refinancing a home in Ocean County, Long Beach Island, Point Pleasant Beach, Bay Head, Mantoloking, Lavallette, Seaside Heights, Seaside Park or another Jersey Shore community, I'd be happy to speak with you personally.
I've been helping homebuyers, homeowners and real estate investors with mortgage financing since 1999.
Whether you're looking for a summer beach house, a second home for your family, a higher-value property requiring jumbo financing, or an investment property you plan to rent, let's discuss the transaction before you decide on a mortgage.
You don't need to fill out an application simply to ask questions or discuss your options.
Owner | Capital Funding Mortgage Associates, Inc.
Call or Text: 215-601-6724
Email:Johnfmadden@capitalfundingmortgage.com
Capital Funding Mortgage Associates, Inc.
41 University Drive, Suite 400 #475
Newtown, PA 18940
John Madden NMLS #960748
Capital Funding Mortgage Associates, Inc. NMLS #960139
Serving homebuyers, homeowners and real estate investors throughout Ocean County, the Jersey Shore, New Jersey and Pennsylvania.
Whether you're planning for this summer, considering a future vacation home, or evaluating a shore property as an investment, contact me before you make an offer.
I'll help you understand the financing, estimated costs and mortgage options so you can make an informed decision.
CALL OR TEXT JOHN MADDEN: 215-601-6724
What are your goals? We are committed to helping you reach them.
