First Time HomeBuyer

New Jersey Mortgage Rates Are Going Up & Down Every Day

There has always been a saying in the mortgage business that “You can’t beat the market.”  If you could and if it were that easy, we would all be rich, right?  Mortgage rates are based on what’s happening in securities and on Wall Street.  So, just as you probably have not struck it rich by [...]

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How to Get a Background Check on the House You Want to Buy

When buying a new home, you want to find out if there are any hidden deficiences that might affect your decision to buy that property. Most people have little alternative but to hope that their real estate broker or inspection report will reveal any negatives about the house. Until now. A new service called BuildFax, [...]

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Your New Jersey Home Inspector Will Probably Find a Problem

Are you selling your home and have a fear about what your buyer’s inspection will uncover?  Will the inspection blow your deal or cause you to lose money due to problems that must be fixed? Rest assured the buyer’s inspector is sure to find something wrong – regardless how minor it may be.  I’m sure [...]

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Why You Should Buy That New Jersey Home Now !!

If you want to buy a home in New Jersey and you thought all the bad news was behind us, think again.  Changes in the markets that are not appealing to buyers continue to occur.  Now there’s media news that there may be plans to: Cease Government backing of Fannie Mae and Freddie Mac Increase FHA mortgage [...]

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How Much Home Can I Afford in New Jersey?

How much home can you afford?  How much home do you “want” to afford? – and -  How much home does the lender think you can afford?  All 3 of these questions will undoubtedly yield a different answer as you search for a home to buy in New Jersey. As the lender, how much home [...]

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Somerset New Jersey Homes for Sale

Click to visit listings.  Click to Share on Facebook

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New Jersey Mortgage Shoppers Can Rob The Bank With a Long Term Adjustable Rate Mortgage – Get the Facts Before You Judge

The 5-Year ARM Is a Mortgage Steal Any borrower in the market for a mortgage loan in New Jersey right now should NOT pass up the savings that can be had with the 5/1 adjustable rate mortgage.  Rates are unbelievably low compared to the 30-year fixed rate.  These mortgages are prime rate, Fannie Mae and FHA [...]

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New Jersey Realtors Can Sell More Homes Faster With FHA Financing

Over the last 2 years, the FHA mortgage program has undergone major changes that has made it the financing option of choice amongst about 35% of home buyers and homeowners who are refinancing.   FHA has always been available to help people get financing who otherwise might not qualify to get a low rate, attractive mortgage.   [...]

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New Jersey Mortgage Applicants: What NOT To Do While Your Loan Application is Being Processed

To insure mortgage approval and closing, the most important step you can take as a New Jersey mortgage loan applicant is to NOT make any changes to your job or financial picture until your mortgage loan has closed and the keys to the home are in your possession.  I have written about this before, but it [...]

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12 “Must Know” Tips For New Home Buyers in New Jersey

For most people, buying a home is the biggest financial investment they will make in a lifetime.  Many homebuyers get involved in the process without knowing all the facts and without knowing how all the various pieces fit together.   Frankly, qualifying for the mortgage may be the simplest piece of the puzzle, yet it’s where home buyers place [...]

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New Jersey FHA Loans – Mortgages Still Available With Low Down Payments

More borrowers than ever before are flocking to New Jersey FHA loans to buy new homes and to refinance their current higher rate mortgages. A mortgage backed and insured by FHA remains very popular for many New Jersey homeowners.  Currently, the minimum down payment for FHA is 3.5%.  However, later this year, buyers might need to [...]

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New Jersey Buyers Can Now Purchase Foreclosed Properties Using FHA Financing w/o Regard to 90-Day Anti-Flip Rule

Effective February 1, 2010, a new policy goes into effect that will speed the resale of foreclosed properties to buyers in New Jersey and other states. To help achieve the national goal of stabilizing home values and improving conditions in communities where foreclosure activity is high, Shaun Donovan, HUD Secretary, announced a temporary policy that will permit [...]

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