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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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Recent News Articles

Homeownership Just Got 5% Cheaper As Mortgage Rates Plummet | NJ Mortgage Resources

Homeownership Just Got 5% Cheaper As Mortgage Rates Plummet

Following a severe drop in mortgage rates on the week of July 8th, 2022, a senior economist from the National Association of Realtors claims that it is now “5% more affordable [to purchase a home] than it was a week
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Mortgage Rates Fall as Recession Fears Grow | NJ Mortgage Resources

Mortgage Rates Fall as Recession Fears Grow

Over the past two weeks, fixed-rate mortgages dropped by half a percent. Although half a percent is only a minor relief, limited housing affordability and growing fears of recession suggest further drops and an overall reduction of market volatility in
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Demand for Mortgages Dropping, Takes Interest Rates With It | NJ Mortgage Resources

Demand for Mortgages Dropping, Takes Interest Rates With It

Housing inventory (the pool of homes that are for sale or available for purchase) rose 29% from this time last year. Conversely, while housing inventory rose, the rates for 30-year fixed mortgages fell to 5.4%, a drop from the 5.8%
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Mortgage Rates Had Biggest One-Week Drop Since 2008, But It Won’t Last | NJ Mortgage Resources

Mortgage Rates Had Biggest One-Week Drop Since 2008, But It Won’t Last

On the week of July 8th, mortgage rates had their biggest drop in a single week since 2008, but experts doubt it will last. With the current volatility of the market, and fear of an upcoming recession, rates are expected
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Mortgage Rates “Still Great” When  Compared to Historical Average | NJ Mortgage Resources

Mortgage Rates “Still Great” When Compared to Historical Average

According to Tony Veldkamp of the Herald Tribune, today’s interest rates are “a bargain … historically speaking.” In 2020 ,the Federal Government reset interest rates to help combat the negative effects of the coronavirus pandemic, leading to the lowest-ever fixed
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Adjustable Rate Mortgages And Their Risks | NJ Mortgage Resources

Adjustable Rate Mortgages And Their Risks

Many homebuyers seek out adjustable rate mortgages when faced with rising interest rates. While adjustable rate mortgages have comparatively low interest, the possibility of that rate changing to something much higher might be too great of a financial risk for
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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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