Relax.... and get the home of your dreams!
- We’ll find the right mortgage loan to suit your needs. We have several mortgage options to help you buy and finance a second home, even with as little as 10% down!
- A NJ Lenders preapproval gives your offer more bargaining leverage. Sellers and agents know you’ve got your paperwork together and are ready to buy.
Why choose NJ Lenders to buy a Vacation Home?
NJ Lenders Corp wants to help you realize that dream of vacation home ownership in one of your favorite locations. If you have your sights on purchasing a home at the beach, near a lake or in the mountains, NJ Lenders can help turn this into reality without any surprises. NJ Lenders has been financing New Jersey, New York and Connecticut Mortgage Loans for second homes for over 20 years.
With our comprehensive pre-approval program we can help increase your negotiating power and speed up the closing process.
Considerations when purchasing a Vacation Home
Property Type: Is the property a single family home, townhome or a condominium. Loan program requirements may be be different depending on the property type.
Debt-To-Income-Ratio: You will need to consider how much debt you would pay every month if you added an additional mortgage. Your existing debt payments, plus the new second home mortgage, will be combined and calculated as a percentage of your total pre-tax income.
Potential Rental Income: You may decide to rent the property when not in use, which could generate additional income.
Cheaper In The Long Run If you travel a great deal and currently spend a considerable amount on accommodations, owning a vacation home may be less expensive in the long run.
Additional Unforeseen Expenses: Second Homes carry additional expenses that you may not have considered. Some examples are homeowners association dues, cleaning services, flood insurance, and utilities.
The NJ Lenders difference
All of our Loan Officers are federally licensed. Talking to a licensed Loan Officer about the purchase of a second home is an important step to getting the right mortgage loan. Everybody has different loan needs and your Loan Officer will know which questions to ask in order to best match you with the right mortgage loan and monthly payment.
Personalized Help. The Loan Officer will also explain all the steps–from getting started, to locking in your low rate, to closing your loan Because we are a direct lender, if you have any questions during the loan process, you will have one direct number enabling you to get quick answers straight from the source.
We'll close your loans fast! On average, mortgages on second homes close in about 30 days.