Most Popular Blog Posts

What Is A Mortgage Pre-Approval?

When you are purchasing a home, your real estate broker may recommend you obtain a mortgage pre-approval before you find the home of your dreams. There are some benefits to being pre-approved before you ...

Qualified Mortgage (QM) Rule and NJ Home Buyers

The Dodd-Frank Wall Street Reform and Consumer Protection Act’s latest provision – the Qualified Mortgage rule – is going to effect on January 10, 2014. While, like many o ...


You Are Entitled to a Second Opinion

You Are Entitled to a Second Opinion - Even If You Have Already Been Pre-Approved For Your Mortgage! Hoboken, NJ - Imagine you have just found out that you have to have surgery o ...

What Do New Jersey Appraisers Look For When Determining A Property's Value?

Most people are surprised to learn what New Jersey appraisers actually look at when determining the value of a real estate property. A common misco ...


Do I Need To Sell My Home Before I Can Qualify For A New Mortgage On Another Property?

Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary resi ...

Where Does My Earnest Money Go?

Hey, I gave my real estate agent a $5000 Earnest Money Deposit check... Where does that money go? A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets acce ...


Renting vs Buying A Home

Buying a home versus renting is a big decision that takes careful consideration. While there are several biased sources that can make arguments for or against owning a home, we've found that most home bu ...

What Does Title Insurance Protect Me From?

By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged. ...


Understanding the FHA Mortgage Insurance Premium (MIP)

* Disclaimer – all information in this article is accurate as of the date this article was written * The FHA Mortgage Insurance Premium is an important part of every FHA loan. ...

First-Time Home Buyer Credit Checklist

Getting a new mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, guidelines and potential speed bumps. Since there are so many ...


Should I Refinance or Get a HELOC For Home Improvements?

For homeowners interested in making some property improvements without tapping into their savings or investment accounts, the two main options are to either take out a Home Equity ...

Calculating The Net Benefit Of A Refinance Transaction

Calculating the net benefit of refinancing can be a challenging task if you do not understand what to calculate. We are going to focus on the net benefits of refinancing from the s ...


Understanding the Difference Between an Appraisal vs Neighborhood Listing Prices

Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street? It’s a great question ...

Making Sure Your Cash-To-Close Comes From The Proper Source

Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process. There's nothing worse in a real estate purchase than m ...


Talk the Talk – Know the Mortgage Lingo at Closing

What the heck are they talking about? Many borrowers go through the closing process in a haze, nodding, smiling, and signing through a bunch of noise that sounds like Greek. ...

Five Myths About Home Values

During periods of economic growth, when home values are typically just going up, most homeowners do not question appraisals much. And in times of turmoil when property values are declining, home sellers ...


How Do Mortgage Companies Value A Property That Has Not Been Built Yet?

It's obviously easier to picture the process of estimating value on an existing property in a neighborhood that has a history of home sales, but the t ...

HOA Hurdles to be Aware of When Looking at New Properties

A Home Owner Association (HOA) can have a huge impact on your life when you buy a home in a PUD (Planned Unit Development) or Condominium Project. According to Wikipedia: A ...


Assembling Your Home Buying Team - Knowing The Players

Buying a new home is literally a team sport since there are so many tasks, important timelines, documents and responsibilities that all need special care and attention. Beside ...

What You Need To Know About The Home Inspection Process

Congratulations on finding a house! You now have only a few days from when you signed the purchase and sales agreement to have a home inspection. Chances are your real estat ...


Important Factors To Consider When Getting Financing On A Foreclosure, Short Sale or New Construction

Short sales, foreclosures and new construction homes all have caveats that need to be considered when pursuing financing. If the guidelines and pot ...

Top Five Market Factors That Influence Mortgage Rates

Timing the market for the best possible opportunity to lock a mortgage rate on a new loan is certainly a challenge, even for the professionals. While there are several generic ...


What's The Difference Between Interest Rate and Annual Percentage Rate (APR)?

The difference between APR and actual note rate is very confusing, especially for First-Time Home Buyers who haven't been through the entire closing p ...

How Are Mortgage Rates Determined?

Many people believe that interest rates are simply set by lenders, but the reality is that mortgage rates are largely determined by what is known as the Secondary Market. The secondary market is comprised of ...


How Do Mortgage Rates Move When The Fed Lowers Rates?

Lower mortgage rates is a common misconception that is perpetuated by the mainstream media when the Fed makes an announcement of lowering rates. However, when the Fed cuts inter ...

Why Do I Need To Pay A VA Funding Fee?

The VA Funding Fee is an essential component of the VA home loan program, and is a requirement of any Veteran taking advantage of this zero down payment government loan program ...


Why Do I Need Mortgage Insurance?

Mortgage Insurance, sometimes referred to as Private Mortgage Insurance, is required by lenders on conventional home loans if the borrower is financing more than 80% Loan-To-Value. According to Wikipedia: P ...

Understanding An Amortization Schedule

By committing to a mortgage loan, the borrower is entering into a financial agreement with a lender to pay back the mortgage money, with interest, over a set period of time. ...


How Do I Calculate My Mortgage Payment Without Using A Mortgage Calculator?

Calculating an exact mortgage payment without a calculator on a loan is no small task, but there are some simple rules-of-thumb you can use to get a c ...

Do I Have To Continue Making My Mortgage Payment If My Lender Goes Bankrupt?

When mortgage lenders go out of business and are essentially taken over by the FDIC, homeowners are left wondering if they still need to make a monthl ...


Shopping For A Hazard Insurance Policy

When shopping for a hazard insurance policy, something called "bundling" can actually save you quite a bit of money that most people aren't aware of. Many of the big insurance c ...

Ten Things You Can Do To Protect Your Identity

Facts About Identity Theft: It's estimated that there were 10 million victims of identity theft in 2008, and 1 in every 10 U.S. consumers have reported having their identity ...


Is There A Rule-of-Thumb Regarding The Number Of Credit Lines To Have Open?

While the actual credit score has a big impact on a loan approval, it's not the only component of the credit scenario that underwriters consider for a ...

Alternate Sources For Establishing Credit

While the basic Rule-of-Thumb for acceptable credit history is a minimum of four trade lines documented on a credit report, there are alternative methods of building a credit pictu ...


What's The Difference Between A Single Family, Second Home and Investment Property?

When applying for a mortgage, a borrower's "Occupancy Type" is a major factor in the amount of down payment required, loan program available and mor ...

What's My Debt-to-Income (DTI) Ratio?

Debt-to-Income (DTI) is one of the many new mortgage related terms many First-Time Home Buyers will get used to hearing. DTI is a component of the mortgage approval process that ...


Calculating Loan-to-Value (LTV)

Understanding the definition of Loan-to-Value (LTV), and how it impacts a mortgage approval, will help you determine what type of loan amount and program you may qualify for. Since the LTV Ratio is a major c ...

Top 8 Things To Ask Your Lender During The Application Process

Knowing what questions to ask your lender during or before the loan application process is essential for making your mortgage approval process as smooth as possible. Many borrow ...


Top Mortgage Terms To Know

While most mortgage web sites offer a glossary containing hundreds of real estate and lending related terms, we wanted to highlight the top terms that most borrowers will hear several times throughout the appro ...

Who Owns My Home If I Have A Mortgage?

Many borrowers believe that when they purchase a property by obtaining mortgage financing, they also own their home. Technically speaking, full ownership on a property only hap ...



 
 
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