Mortgage Broker in Brick, NJ
By Sam Alpert, President and Mortgage Loan Originator, NMLS #1961555
We are based in Toms River, about ten minutes from Brick, and we finance property here constantly. Brick has three financing situations that come up more than anywhere else in the county.
Flood zones and what they do to your payment
Large parts of Brick sit in FEMA Special Flood Hazard Areas, and the maps shifted significantly after Sandy. If a property requires flood insurance, that premium becomes part of your qualifying payment, exactly like taxes.
That is the part buyers miss. A flood premium does not just cost money, it reduces how much house you qualify for. On a lagoon-front or barrier-island property it can be the single largest variable in the file.
Get the flood determination and an insurance quote early. Not after the inspection.
Lagoon and waterfront properties
Brick's lagoon communities, Shore Acres, Baywood, Cherry Quay and the barrier island section, bring appraisal and insurance questions that inland properties do not.
Bulkhead condition, elevation certificates, and whether the property has been raised post-Sandy all affect both the appraisal and what insurance costs. Elevation matters enormously to the premium, which loops straight back into qualifying.
55+ communities in Brick
Greenbriar, Laurelbrook, Cedar Village and the other age-restricted communities here have a specific financing profile: buyers with real assets and modest reported income.
A conventional underwriter looks at a retiree's tax return and often says no. That is frequently the wrong answer. Asset depletion qualifies you on your savings rather than your income, and most people in that position have never been told the program exists.
What we do here
Conventional, FHA, VA, USDA and jumbo financing, plus Non-QM programs for self-employed borrowers and investors. Licensed in New Jersey, Pennsylvania and Texas, working with more than 40 lenders.
Spring Home Company, independent mortgage broker. 1815 Lakewood Rd, Ste 236, Toms River, NJ 08755. 732-908-8040. Licensed in New Jersey, Pennsylvania and Texas. NMLS #2741914. Equal Housing Lender.
Informational only. Not a commitment to lend or a rate quote. All loans subject to credit approval and underwriting guidelines. Program terms and availability vary by lender and change without notice.