Brick’s housing stock is split almost 50/50 between waterfront and non-waterfront, and that line drives pricing. In 2024 waterfront cape cods on the Metedeconk River are selling for $650–$750k, while identical non-waterfront capes three blocks inland trade closer to $475k. Inventory is down to 1.7 months—half of what experts call a balanced market—so bidding wars are routine on turn-key homes under $500k. Appraisals are coming in 2–4% over list, so NMHL automatically adds a $15,000 appraisal-gap pre-approval addendum for qualified buyers, giving you the edge against cash-heavy New York retirees.

Because Brick is fully built-out, new construction is limited to scattered teardowns; that keeps resale values stable. Price appreciation averaged 7.3% annually since 2020, but local Realtors expect it to cool to 3–4% through 2025 as interest rates stay elevated. If you’re self-employed and need a jumbo above the $766,550 conforming limit in Ocean County, NMHL’s Asset-Depletion jumbo allows you to qualify using 4% of liquid assets divided over 360 months—no tax returns required.

• Herbertsville – Tree-lined streets, larger 1970s colonials on 0.25-acre lots, median $445k. Top-rated mid-school, low flood-zone penetration.
• Laurelton – Brick’s biggest condo complex; HOA handles exterior insurance, perfect for FHA buyers. Two-bed units trade around $285k; NMHL closed 12 FHA deals here last quarter.
• Brickwood Manor – 1990s development near Drum Point Road, 4-bed homes under $550k, no flood insurance required, popular with Coast-Guard families from nearby Cape May.
• Bay Harbor (waterfront) – Canal-front raised ranchers, median $685k, deep-water docks. NMHL’s VA jumbo goes to $1.5m with zero down, so veterans can buy here without tying up capital.
• Sawmill Commons (55+) – Newer townhomes, $380–$420k, low-maintenance lifestyle. HECM for Purchase lets qualified buyers 62+ put down 48% and live payment-free.

Brick’s school district (#23 of 243 in NJ) boosts resale; Herbertsville Elementary scores 9/10 on GreatSchools, adding roughly 4% to nearby home values versus districts further south.

Brick’s municipal rate for 2024 is 2.31%, so expect about $9,800 yearly on that $430k median home. Ocean County also bills separately for sewer, refuse, and library, pushing the effective rate closer to 2.46%. The good news: NJ’s homestead benefit reimburses $690–$1,120 for incomes under $150k, and Brick offers a 2% discount if you pre-pay the entire bill by August 1. NMHL escrows 110% of last year’s tax so you’re never short; we’ll even roll your initial discount into cash-to-close if you time the closing for July.

Investors pay an extra 0.5% surcharge, so house-hack a duplex on the barrier-island side and you’ll still come in under 3%. Our Brick loan officers run a Tax-Smart Qualifier that compares homestead vs. veteran vs. senior freeze so you pick the best combo before the closing disclosure is printed.

Brick buyers have three layers of help:

1. NJHMFA Smart Start – $10k–$15k forgivable after five years. Income limit $113,040 (Ocean County 1–2 person household). Can be layered with FHA, VA, USDA, or conventional.
2. Ocean County HOME – Up to $25k at 0% interest, deferred until resale or refinance. Must be first-time buyer under 80% area median income; works on 1-unit homes, not condos.
3. NMHL First-Gen Grant – If neither you nor your parents have owned in the last three years, we’ll gift 2% toward down payment on any of our agency products; no repayment required.

Stack example: $400k Brick cape cod—3.5% down = $14,000. Smart Start covers $14k, NMHL First-Gen gifts $8k toward closing, and seller concession handles the rest. Buyers walked in with $500 out-of-pocket and still kept a 4.75% FHA rate after buy-down.

Brick’s workforce is heavy on tourism trades—restaurants, marinas, seasonal retail—so irregular income is common. NMHL carries three niche products other Jersey lenders decline:

• Bank-Statement Express – 12 or 24 months of business or personal statements; use 80% of deposits. Credit scores to 580. Last month we approved a $525k bay-view townhouse for a bakery owner who hadn’t filed 2023 taxes yet.
• Cash-Out Debt Consolidation – FHA cash-out to 85% LTV with scores to 600. Perfect for paying down 29% credit-card utilization and jumping a buyer’s score 40 points in 45 days.
• Credit-Resilience Program – We pair you with a local non-profit to delete old medical collections; once score hits 620 we convert you from FHA to a conventional 3% down, saving $186/month in PMI on a $450k loan.

If you’ve had a Chapter 13 discharge, we only need a 24-month wait period versus four years for conventional. Union bricklayers rebuilding after a 2021 foreclosure used our Fresh-Start program, secured a $425k VA loan with 580 mid-score, and closed in 28 days.

VA – Brick has no VA-imposed price cap, but the county limit for 100% financing is $766,550. Over that? Bring 25% of the difference. Waterfront cape on Maple Leaf Drive sold for $885k; veteran put 5% down and financed the rest at 6.125% with no PMI.

FHA – Most Brick condos built before 2010 are already HUD-approved, but newer Laurelton buildings need spot approval. NMHL’s condo team maintains a live spreadsheet of Brick complexes; we can tell you in five minutes if the one you’re touring qualifies for 3.5% down.

USDA – Surprisingly, parts of western Brick (west of Herbertsville Rd.) are still eligible for the USDA Rural Development $0-down program. Income limit for a 1–4 person household is $129,600. Last quarter we closed a $355k new-build on Lanes Mill Road with $0 down and seller-paid closing costs; buyer’s cash-to-close was $1,187 for escrow setup.

Conventional – Brick’s high-tax environment makes PMI look scary, but at 760+ credit our 3%-down HomeReady product with lender-paid PMI often beats FHA on payment. Compare: $430k purchase, 3% down, lender-paid PMI adds 0.375% to rate—monthly P&I + MI still $92 lower than FHA.