NJ First-Time Home Buyers

head_left_image

Home Buying Tips

Buying a home isn't rocket science. However, somehow, someway, we all still hear horror stories of missed closings, different rates at the settlement table, or points to pay that were never agreed upon. Worse off, in some situations home buyers are put in such a bad situation that they never actually get to buy the house. Their overjoy turns to utter sorrow.

This list could have 100+ tips. Here are just a few things that you can do to help your home buying event run smooth.

Home Buying TipsDon't shop for interest rate.  Shop for a lender that knows what they are doing.

You want a great, competitive rate, that goes without saying. And this is still important. But proper structuring of a loan can not only get you into a home, but the long term benefits of "better advice" versus "better price" will save you thousands. It will also create a far safer post settlement scenario. After all, who wants to settle on a home with no money left in the bank? When financing is not well structured, a home goes from a dream to a stressful nightmare.

Although you have a family member/co-worker/friend-of-a-friend that is a real estate agent ...

... they may not be the best agent for you. Believe it or not, these people don't always know what they are doing, worse off they are not always out for your best interest, both because they don't know what they are doing and because their very sporadic real estate paychecks are so overdue they would do anything to get another paycheck, even if that means acting not in your best interest. Working with family and friends can be great, but don't assume that just because they know you that they are good at what they do or that they are going to put your needs first.

Work with a lender that has in-depth knowledge regarding credit scores and credit restoration.

Consider these example situations that could arise when a home buyer's credit is "less than perfect"

  1. Your credit could be low - and good advice could help your credit score to be high enough for a mortgage approval.
  2. Your credit could be low - and bad advice could cause you to not qualify for a mortgage at all.
  3. Your credit could be good - and good advice could raise your score and help you get a lower rate.
  4. Your credit could be good - and bad advice could lower your score and even disqualify you for an approval.

There are real estate professionals that shoot from the hip advice that is inaccurate. It is hard enough in this market to qualify for a loan. Be very careful about working on your credit and the advice you take-in. Don't be afraid to do some research yourself. A bad move could keep you from buying a home for months or even years.

For additional home buying tips consider subscribing to this blog below (Click the "E-mail Subscribe" button.

 


Subscribe to Steve's Blog via Email

Active Rain Blog Subscribe

Steve Kappre is a Mortgage Planner with Treasury Mortgage. Steve specializes in;

• All areas concerning First-Time Home Buyer Mortgages, grants, down payment assistance, police and fire loans, rehab loans, and more.

Reverse Mortgages

• Equity Management strategies for high-end homes and high net worth individuals.

Contact Steve Kappre directly at 856-419-3561 or at www.stevekappre.com

Comment balloon 3 commentsStephen Kappre • June 12 2009 08:54AM
Home Buying Tips
share
Buying a home isn't rocket science. However, somehow, someway, we all still hear horror stories of missed closings, different rates at the settlement table, or points to pay that were never agreed upon. Worse off, in some situations home buyers are… more
Financing and Mortgages with a Credit Score Below 620
share
If you or a friend have taken the necessary steps to purchase a new home, this scenario may be familiar to you; You make a decent income, you have worked hard to save some money for your purchase, and you are working hard to stay within your means… more
100% Financing in Gloucester County, NJ
share
100% Financing in Gloucester County, NJ There are 100% financing options available in this current market. 100% financing is available to many buyers, not just first time buyers. And the rates are great, often the same rate as a conventional… more
100% Financing in West Deptford, NJ
share
100% Financing in West Deptford, Thorofare, and Verga, NJ There are 100% financing options available in this current market. 100% financing is available to everyone, not just first time buyers. And the rates are great, often the same rate as a… more
100% Financing in Paulsboro and Billingsport, NJ
share
100% Financing in Paulsboro, Billingsport, NJ There are 100% financing options available in this current market. 100% financing is available to everyone, not just first time buyers. And the rates are great, often the same rate as a… more
100% Financing in Gibbstown, NJ
share
100% Financing in Gibbstown, NJ There are 100% financing options available in this current market. 100% financing is available to everyone, not just first time buyers. And the rates are great, often the same rate as a conventional or FHA… more
100% Financing in East Greenwich, NJ
share
100% Financing in East Greenwich, Mickleton, Clarksboro, and Mount Royal, NJ There are 100% financing options available in this current market. 100% financing is available to everyone, not just first time buyers. And the rates are great,… more
$8, 000 FIRST TIME BUYER TAX CREDIT - CHECK RECEIVED!!!
share
Great info from my friend Sheldon! That's one NICE check to cash!! This is an actual check from one of my First Time Buyers who bought a home last month, and immediately filed his 2008 tax return - which he… more
New Jersey First Time Home Buyer Options
share
Here are some great resources for first time home buyers located in New Jersey. These mortgages, grants, and other programs cover varying areas including; All of New Jersey, South Jersey, or specific county programs like Gloucester, Camden, Salem,… more
NJ First Time Home Buyer Grant Program
share
New Jersey First Time Home Buyer Mortgage rates have changed. The new rates are more familiar to us that have been in the NJ mortgage market for a while. First-Time Buyer rates were uncharacteristically much higher for the last several months, but… more