Interest Rates

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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Keeping Your Credit Score High While Shopping for a Mortgage in New Jersey

There is a HUGE misunderstanding among MOST mortgage shoppers that whenever a mortgage lender in New Jersey pulls their credit, the score will drop.  Therefore, the borrower decides they have no choice but to shop for a mortgage without the lender seeing their credit at all, or by telling the lender what they believe their [...]

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25 Million Lenders And Still Counting For “Best Mortgage Rates” – It’s a Jungle Out There. Who Really Has the Lowest Rates?

How does a borrower looking for a mortgage loan find who “really” has the lowest mortgage rates if there are over 25 million pages online screaming that “they” have the best mortgage rates? What do I mean?  Type “best mortgage rates” in Google and see what you get.  Today, February 8, 2010, your friendly lenders are [...]

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Why New Jersey Borrowers Might NOT Get That Low Advertised Mortgage Rate

Okay.  So you’re thinking to yourself, “I called that lender because they advertised rates that were so low, but I didn’t get the rate.”  Why not? The answer is relatively simple though some lenders don’t take the time to thoroughly explain it.  Mortgage rates are low, but only if the borrower “qualifies” for that low [...]

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Getting Ready to Buy Your First Home in New Jersey with an FHA Mortgage Loan

Needless to say, there are swarms of people inquiring with lenders right now about buying their first home in New Jersey.  Smart move.  With low rates, low home prices AND a tax credit, it would be foolish to wait – if you qualify and if buying makes sense. Many of the calls I receive are [...]

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Can I Hurry Up and Wait to Refinance My New Jersey Mortgage?

Procrastination is ever so common with New Jersey borrowers when it comes to their mortgage refinance.  Not only can the delay itself be dooming for the borrower, some lenders are taking 60 days or longer to complete the transaction.  The delay by the borrower combined with the long lender turnaround time means the interest rate might [...]

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Confused About Your New Jersey Mortgage Options? 30-Year, 15-Year, Fixed, ARM, FHA..?

Are you buying a home for cash?  Meaning no mortgage?  If yes, you are unusual indeed.  Most New Jersey buyers need a mortgage in order to buy property.  If you do need a mortgage, it’s always good to know some of the basics.  The most critical decision you will have to make is what type of [...]

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Why Homebuyers Are Taking a Big Risk Waiting for Lower Prices

Wanting to lie in wait for near give-away home prices along with a fear of overpaying for property is in the minds of more than a few prospective homebuyers.   But just like trying to time the bottom of the mortgage market is a lose-lose deal, so is the timing of home prices. Click to Share [...]

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Do You Want to Take Advantage of Low Rates, But Will Be Moving in 4 to 7 Years?

Most borrowers have always been accustomed to getting 30-year fixed mortgage loans. Even when not practical, many still want the 30-year fixed rate. But for anyone moving/selling within 4 to 7 years, some thought should be given to a more short-term mortgage such as the 5/1 ARM or the 7/1 ARM. What is the 5/1 [...]

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FHA Loans NOT Just for New Jersey 1st Time Homebuyers. Not at All.

The rumor that FHA mortgages are only for New Jersey first time homebuyers has circulated for many years.  I have heard it since I first began in the mortgage business many years ago. Let me confirm:  It is a BAD RUMOR.  Total misinformation. Anyone can get an FHA mortgage loan – anyone who qualifies of [...]

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Mortgage Shopping “Online” Versus Finding a Local New Jersey Expert? What To Do?

Most will agree that, undeniably,  the Internet is a great source of information about nearly everything.  What can’t you find online? There are many items I would not (or cannot) buy anywhere else but online.  Things like pricey computer accessories, books, personalized items, car tires (yes, tires), vitamins, and lots more. But I would not [...]

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Why New Jersey Mortgage Borrowers Are Often Still on the Losing End After Rate Shopping

One of the most frequent complaints we hear from New Jersey borrowers is about the interest rate “they thought” they could or would get on their new mortgage loan.  This happens more so when borrowers found their mortgage consultant by either (1) calling several lender offices inquiring about mortgage rates, or (2) relying on Internet [...]

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