Buy a home...but it is often a complex process involving many steps. The more you know about the real estate purchasing process, the more likely we can go from purchase to closing smoothly.

CLICK ON THE TABS TO THE LEFT FOR A STEP BY STEP EXPLANATION OF THE PROCESS.

(they are intended to be a guideline only, since each transaction is unique and may not always follow these steps) 

IMPORTANT INFORMATION ABOUT BUYING A HOME !!!

 We can't make predictions about when home prices will "bottom out", until we start to see them go up again. Waiting on the sidelines to "see what the market will do" may not be in your best interest right now. Qualified buyers should consider these reasons why waiting may not be a the best position to take.

  • MORTGAGE RATES ARE AT THEIR LOWEST IN YEARS but are expected to rise by the end of 2010.  Did you know that for every 1% increase in mortgage interest rate you LOSE between 8-10% of your buying power??
  • Qualified first time home buyers can now get up to $8000 for primary residence purchases closing up to June 30, 2010. (with a signed contract no later than April 30, 2010). For more information visit: http://www.federalhousingtaxcredit.com/faq1.php
  • FHA minimum down payment is only 3.5% and can be combined with buyer assistance programs in many cases for little out of pocket expense!
  • According to HUD, in Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Ocean, Passiac, Somerset, Sussex and Union counties the maximum FHA insured loan amount for single family is $729,750 . For more information visit :www.fha.gov or www.fhfa.gov

If you are a first time buyer you may also qualify for the

 NJ Smart Start Buyer Down Payment Assistance Program.

For more information visit :

http://www.nj.gov/dca/hmfa/consu/buyers/ownprg/smart.html

(be sure to speak to a qualified mortgage lender for more specifics)

  

You should also consider speaking to a mortgage representative as soon as you have a fully signed contract of sale.

With the numerous mortgage programs available today, based on your financial qualifications, purchase price and dollar amount (or percent) of the purchase price you plan on using as a down payment, they can help you determine your buying power and help us present a strong offer to a seller.

I can provide you with a list of recommended Mortgage Representatives