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Why a Local Bank is Better for a Mortgage

June 19, 2017

We are fortunate to live here on the New Jersey coastline. From the beautiful beaches to the tight-knit communities and diverse culture, there is no better place to call home. As a local bank with local values, Manasquan Bank provides fast, customized residential lending to help our customers feel right at home. Working with a local lender offers several advantages, including:

Local Market Knowledge
As your fellow neighbors with decades of experience in mortgage lending, we understand that home values in Monmouth and Ocean Counties can fluctuate dramatically depending on where you want to live, how close to the beach you want to be, and a variety of other factors. We know the local market, and work with local appraisers to ensure underwriting is fair and accurate.

Flexible Lending
Manasquan Bank is a portfolio lender, meaning our mortgages come directly from us. We are not confined to Fannie Mae and Freddie Mac guidelines, which means we are able to use common sense underwriting when considering an applicant. We see the big picture in each individual situation, often forgiving the small financial issues that make it difficult for many worthy buyers to get approved for a home loan. We’re looking for reasons to approve the mortgage that’s right for you, not reasons to decline your application.

Buying a home is one of life’s most meaningful milestones; you should be able to reach a live person throughout the process instead of having to decode automated options. At Manasquan Bank, every borrower has a direct line to their own personal mortgage specialist. We make it a point to be accessible, and since your mortgage payments are made to us rather than third-party service providers, the relationship only grows with time.

Great Products
We have fantastic mortgage products, particularly for first-time homebuyers. Normally, you would have to put 20 percent down on a home or purchase private mortgage insurance (PMI). With us, you can put 15 percent down and we’ll waive the PMI – no increase in interest rates or fine print, just extra money in your pocket for the many expenses that arise when buying a home. We also refund the application fee for first-time homebuyers.

Fast Approvals
Larger banks typically take up to 60 days to approve a mortgage. At Manasquan Bank, we can close your mortgage in as little as 30 days. We know you are excited to move forward with your home search, so we do everything we can to keep red tape out of your way. So what are you waiting for? Get closer to home with Manasquan Bank. We’re here to help you find and finance your dream home. Learn more about our handcrafted mortgages.


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