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.