Buying your first home comes with a hundred questions nobody warns you about — how much you actually need down, what a pre-approval really proves, which loan program fits a first purchase, and whether buying in Monmouth County is even within reach. You don't need a sales pitch. You need a lender who will teach you the process while they run it.
Sea View Mortgage is a Monmouth County-based lender on the county's First-Time Home Buyer lender list, led by President / Loan Officer Philip Wallace, with 25+ years in the business. We've closed first homes across the Shore for decades — and the hand-holding is the point, not an upsell.
First home? Start with a conversation, not an application.
Call (732) 443-4859 or start your pre-approval online today.
Get Pre-Approved Call (732) 443-4859
Monmouth County runs a First-Time Home Buyer Program that helps eligible buyers with the cost of getting into a first home, and it works only through participating lenders. Sea View Mortgage is on the Monmouth County First-Time Home Buyer lender list — which means we can take you through the county program as part of your purchase, not send you elsewhere to figure it out.
County program details — income and purchase-price limits, assistance amounts, homebuyer education requirements, and eligibility rules — are set by the county and change over time, so we won't print figures here that could go stale. What we will do is check your eligibility against the current program in our first conversation and tell you plainly whether it helps your purchase.
State-level assistance programs also exist in New Jersey for eligible buyers. If any assistance program fits your file, we'll surface it — that's part of the job.
FHA loans — the classic first-purchase path. Federal Housing Administration loans are known for flexible credit standards and a low standard minimum down payment (3.5% for qualifying borrowers under the program's published guidelines), and they allow the down payment to come from documented gift funds in many cases. FHA carries its own mortgage insurance structure, which we explain in full before you choose it. See our FHA Loans page for the deep dive.
Low-down-payment conventional loans — first-time buyer conventional programs exist with down payments as low as 3% for qualifying buyers, generally rewarding stronger credit with lower overall cost than FHA for the same purchase. If your credit is solid, this path often wins — and if it isn't yet, we'll show you what "yet" looks like.
The county and state assistance layer — for eligible buyers, assistance programs can stack with either path above to reduce the cash you need at closing. Eligibility is specific; the only honest way to know is to have us check.
Not sure you're "first-time"? Under most program definitions, you may qualify as a first-time buyer if you haven't owned a home in the last three years — even if you owned one before that. Ask us before you count yourself out.
We model the paths side by side — same house, same price — so you see the real trade-offs instead of a brochure.
Start the process here: Get pre-approved.
Illustrative scenario — the following is an example created to show how this type of loan can be structured. It is not a specific past transaction.
No question is too basic — that's literal, not a slogan. The strongest first step is a conversation about what you can actually do, on your actual numbers.
Call Philip Wallace at (732) 443-4859 or start your pre-approval online.
Self-employed first-time buyers may also want to see our Bank Statement Loans page. To learn more about Sea View Mortgage, see our Monmouth County mortgage lender page.
How much do I really need for a down payment on a first home?
Usually less than you think. FHA's standard minimum is 3.5% for qualifying borrowers, and first-time buyer conventional programs go as low as 3% down for qualifying buyers. Assistance programs may reduce the cash you need further. What matters just as much is cash-to-close beyond the down payment — closing costs and reserves — and we'll map the full number for your price range before you shop.
I'm a first-time buyer — should I choose FHA or conventional?
It depends on your credit profile, your down payment, and how long you expect to keep the loan, because the two programs handle mortgage insurance very differently. Conventional often wins for stronger-credit buyers; FHA often wins when credit is thinner or the down payment is the constraint. We run both on your real numbers and show you the comparison. Our FHA Loans page goes deeper on that program.
What does the Monmouth County First-Time Home Buyer Program do, and do I qualify?
The county program helps eligible first-time buyers in Monmouth County with purchase costs, and it works through participating lenders — Sea View Mortgage is one of them. Qualification turns on factors like income, purchase price, and completing the program's requirements, and the terms are set by the county and updated over time. Bring us your situation and we'll check your eligibility against the current program directly.
What is a pre-approval, and why do sellers care?
A pre-approval is a lender's verified review of your income, assets, debts, and credit, resulting in a letter stating what you're approved to borrow. In competitive Monmouth County markets, sellers and listing agents weigh offers with real pre-approvals far more heavily than unverified online estimates. Ours are based on your documented file — start here: pre-approval.
My credit isn't great. Should I even call?
Yes. "Not great" covers a wide range, and Sea View runs both the Classic FICO and VantageScore 4.0 models, which don't always score the same file the same way. If you're not ready today, you'll leave the conversation knowing exactly what to fix and how long it typically takes — a plan, not a rejection.
I owned a home years ago. Can I still count as a first-time buyer?
Often, yes. Most programs define a first-time buyer as someone who hasn't owned a home in the past three years, regardless of earlier ownership. Program definitions vary, so tell us your history and we'll check it against the programs that matter for your purchase.
Sea View Mortgage — Philip Wallace, President / Loan Officer, NMLS #404069 · Company NMLS #1706303
27 Beach Rd Suite 5A, Monmouth Beach, NJ 07750
Phone: (732) 443-4859
Equal Housing Lender. This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site. Loans are arranged through third-party lenders. All loans subject to credit and property approval. This is not a commitment to lend. First-time buyer, FHA, and down payment assistance programs are offered through participating lenders and agencies; eligibility, income and purchase-price limits, education requirements, and program terms are set by the administering agencies, vary by program, and are subject to change. Program details shown are general educational information, not a guarantee of eligibility or assistance.