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NJ Mortgage Resources

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          Learn more about the NJ mortgage process with our educational resources for homeowners.

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        • What is a Mortgage?A mortgage is simply a lien that is put on a property by a bank or lender of money to assist a consumer to obtain funding in order to purchase that property.
        • Mortgage Pre Approval vs. Pre QualificationAs a technical matter is there are actually 3 levels of “Pre-Approval” available as a lead-up to your mortgage.
        • What Factors Go Into Qualifying for a Mortgage?There are four main categories that a bank will review when they qualify you for mortgage financing, otherwise known as the four pillars of qualifying: Income, Assets, Credit, and Debt.
        • What is PMI Insurance?Private Mortgage Insurance (PMI) is quite simply an insurance policy that protects the mortgage lender in case of default on the mortgage.
        • New Jersey Mortgage Application ChecklistBeing fully prepared leading up to your application can prevent a lot of troubles and tribulations, which can be detrimental and emotionally taxing especially after you’ve gone to contract on your new home.
        • What Is The Minimum Down Payment For a House in NJ?Depending on your circumstances you may be looking to get into a property for the least amount of cash possible.
        • What Are The Three Different Types of Mortgage Lenders?There are 3 different types of lending companies that originate mortgage loans. Banks, Brokers, and Mortgage Bankers.
        • What Determines Mortgage Rates?A variety of factors lend their hand in the determination of where a particular lender will be on rates.
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NJ Mortgage Resources Background | Different Types of Mortgage Lenders

About Us

Home Ownership; The American Dream.

Almost everyone in America has dreamed of owning their own home one day. Many go on to realize that dream. Most of those people will need a mortgage to make that dream a reality. However, despite the fact that most Americans will need to obtain a mortgage at one point in their lives, mortgage banking continues to be misunderstood by most of the public at large.

New Jersey homeowners will literally spend hundreds of thousands of dollars in interest over the life of their mortgage. Yet, despite the amount of money spent, so few people will take the time to understand the idiosyncrasies that define mortgage banking. These are issues that, if understood, could potentially save New Jersey mortgage holders tens of thousands of dollars over the term of their mortgage. Not only that, but if they took those savings and invested them in an interest-bearing account, it could mean hundreds of thousands by retirement.

Too many New Jersey mortgage shoppers remain misinformed regarding the financing of what is quite possibly the single most expensive purchase they will ever make, their home. In many cases, they have been misdirected or misinformed. This may be from a commission-driven loan officer or by financial advisors, who may have had good intentions but lacked the knowledge or financial skills that would permit sound advice.

NJMortgageResources.com wants to make sure that there is an easy-to-understand layperson’s “handbook” of sorts to which current and potential New Jersey mortgage holders could refer. A resource that would allow the consumer to understand how the lender is operating and what will be part of the process when they apply for their mortgage. Armed with this knowledge, the consumer can even the playing field with their lender and come away with the best mortgage terms for themselves.

Our team sincerely hopes that you find benefit to this website and we would ask for your feedback or questions that you would like included in any updates. You can contact us by email at [email protected].

Happy home hunting and we look forward to hearing from you about your experiences.

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NJMortgageResources.com provides homeowners with all the information they need to navigate the complex New Jersey mortgage process and get the best rate possible for their situation. Browse our educational resources and get a free customized rate quote from one of our top NJ mortgage specialists who can also help you with any additional information you may need or questions you may have.

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Quick Links

  • About
  • Resources
    • What is a Mortgage?
    • New Jersey Mortgage Application Checklist
    • Mortgage Pre Approval vs. Pre Qualification
    • What Is The Minimum Down Payment For a House in NJ?
    • What Factors Go Into Qualifying for a Mortgage?
    • What Are The Three Different Types of Mortgage Lenders?
    • What is PMI Insurance?
    • What Determines Mortgage Rates?
  • FAQs
  • Glossary
  • News
  • Blog
  • Get a Custom Rate Quote

Resources

  • What is a Mortgage?
  • New Jersey Mortgage Application Checklist
  • Mortgage Pre Approval vs. Pre Qualification
  • What Is The Minimum Down Payment For a House in NJ?
  • What Factors Go Into Qualifying for a Mortgage?
  • What Are The Three Different Types of Mortgage Lenders?
  • What is PMI Insurance?
  • What Determines Mortgage Rates?

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