Independent mortgage lender Mortgage Network recently opened a new branch in Wall, N.J.
The new branch will be managed by Michael Martone, a 25-year mortgage industry veteran and former U.S. Marine.
Martone works with veterans, first-time home buyers, investors and those who purchase second homes in the Ocean and Monmouth county areas of New Jersey.
Martone previously worked for Eagle Home Mortgage, where he managed its Red Bank, N.J. branch. He has lived in the Ocean/Monmouth County area since 1986 after being honorably discharged from the United States Marine Corps after six years, most of which was spent on active duty. He is a member of the American Legion as well as the Brick Morning Rotary Club, Bricktown Chamber of Commerce and Brick American Baseball League.
“We are thrilled to open another branch office this year and Mike is the right person to lead it,” said Brian Koss, executive vice president of Mortgage Network.
Joining Martone in the Wall office will be loan officer Christopher Somerholter and loan officer/sales assistant Anthony DiLeo.
Somerholter, who has more than 20 years’ experience in the mortgage industry, works mostly with first-time home buyers, investors and buyers looking to purchase second homes.
DiLeo also previously worked at Eagle Home Mortgage.
Martone notes that there is a lack of homes for sale in Monmouth and Ocean Counties, particularly at the lower price range, which often means that many homes attract multiple bidders. There are more homes available in the jumbo price range with a little more room for negotiating with sellers, he says.
“The best advice I can give buyers in this market is to get pre-approved for a mortgage before they shop and be aggressive in their offer to avoid a bidding war,” Martone says in a release. “If you’re renting, get an opinion to see if you can afford to buy. In most cases buying a home will be cheaper than renting.”