Juan 's Blog

BEFORE YOU SELL

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:17:52 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

10 Steps To Take Before You Sell Your Home

Although the home selling process differs depending on your location, there are some steps that every seller should take before putting his house on the market.

1. Pre-approval for your home loanHave you heard the horror stories of sellers who signed a contract to sell before they even know if they could qualify for another one? As the story goes, either they aren't able to sell at the desired price so they can't afford the home they want or even equal to what they currently have, or else they don't qualify financially for a loan the way they did the last time they purchased. They end up either renting or buying something that isn't what they'd hoped for. Before you decide to sell or accept any kind offers, you should get pre-approved by a lender. It's also a good idea to research the market where you'd like to live so that you get an idea of what it will cost to buy your new home. Questions to ask yourself could include: What's the difference in price on a step up? How do homes already for sell compare to your own? What kind of price are you looking or hoping for and is it realistic for what you want to purchase? You can also start looking both at houses that are similar to your own and those that are similar to what you want. Compare prices. You might have to pick up the newspaper or some For Sale magazines (usually free). You can also begin calling agents and other resources.

2. Calculate the cost of your mortgage payoffYou'll need to know the amount required to payoff your mortgage in order to sell. You can contact your lender for this information.

3. Figuring the worth of your homeMost real estate agents will gladly help you determine your home's fair market value, however you might consider ordering an appraisal. Keep in mind that although an appraisal costs money, (and the agent does it for free) the appraisal will give you a more appropriate idea of your home's value and might be worth the extra cost.

4. Estimate Your Costs to SellAlthough you're selling to make money, there is some cost to you in order to sell. Some ideas of things you'll need to pay for and probably want to figure out the cost of include:

Commission to a real estate agency if you plan to use one to help you sell
Taxes on the sale
Some seller required fees which might include inspections, surveys, etc.
Advertising costs to sell, signs, fliers, etc.
Closing costs (your real estate agent can give you an idea of these costs)

5. Estimate Your Costs to Buy a New HomeWhen you apply for pre-approval of a new loan, your lender should disclose to you an idea of estimated costs to acquire a new home. Some of these costs could include:

Down payment
Home inspections
Moving expenses
Title and policy work
Hazard insurance

6. Estimate Your ProceedsThere should be some profit but here are some ideas to consider before estimating the final amount:

Make all repairs so that there will be no reason for a potential buyer to submit a lower offer. This does not mean cosmetic repairs are required, but real repairs such as a broken heater, etc.
If your home is not yet paid off, be sure to deduct your mortgage payoff amount.
Deduct all selling costs from the total payoff amount.

7. Make Necessary RepairsMost people don't think of their house as a "fixer-upper" but unless you want your house thought of this way, you may need to consider things that are obviously broken and repair them before you try to sell. Otherwise your buyer might think they have a reason to submit a lower offer.

8. Preparing the House for ShowingMost houses need at least a little spiffing up before they are shown to potential buyers. Great curb appeal, fresh paint indoors (and sometimes out), organized closets and cabinets, sparkling clean windows and appliances, and a clutter-free atmosphere are essential if you want the house to appeal to buyers. Very few houses are always in mint condition. Your house may need a little cleaning and organizing to help it become extraordinary. Great curb appeal, fresh paint, arranging closets or cabinets and clean appliances, drawers or windows help make your house appeal to buyers. Do whatever you can to make your house clutter-free and cleaner than it usually is. This is great preparation for showing the house- be sure to maintain this level of cleanliness for as long as it takes to sell your home. Click Here for more info on preparing the house for showing!

9. Becoming Comfortable with Allowing People InIf you are really ready to show your house, you have to learn to be comfortable with people coming through... some of these people may eventually live there! Don't ever ask to be present during a showing unless there is an urgent need for it. Why? Because lurking sellers make nervous buyers. No one feels comfortable exploring or inspecting a house, knowing the owner is watching over their shoulder. Also you need to have your house ready for showing at any time, day or night. Some agents won't even bother showing a home that needs 24 hours notice. Make the house accessible, make yourself removable, and remember to be prepared for showing at a moment's notice.

10. If you're ready to sell, LIST IT!!If you think you're ready to sell, you probably want to make your house visible to potential buyers. You might decide to sell your house for sale by owner. If so, you might want a comparative market analysis (CMA) to help you set your price. Also explore all types of marketing tactics, including print, web and other types of advertising. Although you pay a commission, there are definite advantages to using an agent. Before choosing an agent, here are some things to understand about agencies and to be sure your house is getting the visibility needed:

Find out what is the commission rate. You can make several phone calls and compare agencies offering the same services.
Get listed on the MLS (multiple listing service). Find out if the agency belongs to more than one MLS. In some areas there's an overlap of popular neighborhoods, making multiple memberships important.
Find out how long they want you to list with them, keeping in mind that the time is usually negotiable.
Find out the average length of time it takes to sell a house in your area. Find out the company average. Compare with other company averages for your same area.
Find out how long the (potential) listing agent has been licensed to sell real estate. Find out what kind of success rate he has.
Find out what percentage of the agency's listings sell during the initial listing contract period. This initial period can be as long as six months.
Find out how often you can expect buyer feedback, whether it be after every showing, weekly, more often, etc. Find out the means for this feedback - written, online, etc. Buyer feedback is a very useful tool because if everyone makes the same negative comment, you might consider resolving the problem.
Find out if the agent will hold an open house for other real estate agents or for buyers. Find out what other marketing tools he might use.
Determine how showings are to be handled. If you put restrictions on showing, you may cut down on the number of buyers seeing your home, but you need to be sure you can handle showing or leaving at a moment's notice.
If you have pets it is an excellent idea to find a place for them during showings. If you have an indoor pet, think of taking it with you when you leave for a showing; if it's an outdoor pet, tie it up outside to ensure both the safety of your pet and the buyer.
Consider a lockbox for times when you aren't available to be reached. Many agencies place a key inside a box that is secured to your home and then only agents have a key to open the lockbox. Helps your home to be available more, even if you're available less.
If your new home will be in the same area, ask the agent any questions you might have as a buyer. You may choose to use the same agent to buy and sell.

Be sure you're aware of Why Good Houses Don't Sell!
You can also contact your agent for more information by Clicking Here.

RESALE POTENTIAL

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:16:00 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

Resale Potential for Your New Home

You might think it's strange to consider selling a house you don't even own yet, but what if you decide to move? Do you want a house that has grown in value and sells quickly? Sure you do.

Many of us won't live in the same house forever, so when considering a purchase it makes sense to look at resale value. Although it takes a little more time to think about the resale value when considering a home, if there comes a time when you have to sell, you'll be glad you made that earlier effort. Begin finding out about resale values from the very start of your home buying search.

Location, Location, LocationWhen deciding on location, don't necessarily pick somewhere that has a desirable status today, but rather, look at the reasons why it has become so, and then look for a location that includes those same things or will within the time you're living there. Some things to consider could be availability of services, areas in town increasing in desirability, community changes (for good or bad), etc. Allow these factors to influence your decision on where to buy. Remember to always find a home that suits your needs and wants best, but if possible, someplace that others might end up wanting as well. Think also of what type of people are moving in. If a lot of recent buyers are families with small children, search for a house with a large yard, lots of room, and away from a busy street. If there are elderly people buying where you're looking, consider homes with few or no steps, as seniors sometimes have difficulties. Also try reviewing real estate ads in your area. If there is a particular feature mentioned in several areas, it could be one that is in demand. Also avoid buying outdated homes, unless you plan to fix it up. A home with two bathrooms is worth a lot more than a home with only one. Central air and heating are more popular than swamp coolers or baseboard heat. Although you might think outdated means character, keep in mind that in order to resell, you'll probably have to change those older features.

Cosmetic Fixes Can Be Painless If you see the home needs just a few cosmetic touches, don't be afraid to do them yourself. Often homes in need of cosmetics are priced below market value. Fresh pain is fairly inexpensive and can make any home look almost new. A few new appliances can make an old kitchen come to life. Consider adding glass to your front door or cabinet doors to lighten things up. New light fixtures or switch plates can change the entire feel of a room. Take a trip to a nearby hardware store and check out what they have to offer. However, be sure to buy good quality product so that your fixes stay fixed.

Buyers WantsImportant features change, depending on your area. If you want to find out what is in demand, talk to a realtor, look in a realtor magazine or even ask the hardware store for some input. Some features that nearly every buyer looks for include storage space, closets (the larger the better), homes with natural lighting or bright, open areas, and floor plans with bedrooms on each end of the home are becoming every more increasing in popularity. If you know that you will be moving in three to five years, carefully consider the resale value of any home you consider purchasing. Even if you think you'll stay for awhile, find a house that's right for you, but don't hesitate to think of how it might be right for someone else, somewhere down the road.

If you're considering a home warranty, Click Here for more information.
Don't forget to check out Tips for New Home Buyers!

MAKING AN OFFER

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:14:44 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

Making An Offer

Determining a Home's ValueNo matter how seasoned a buyer may be, no matter how many homes you've purchased or what you know about the market value of homes in your area, it can still be unsettling to make a formal offer. Below are some ideas about what you should or shouldn't do when making an offer on a home.

Some buyers are so worried about overpaying for a home, or missing the seller's low point, that they come in with an extremely low offer, and it alienates the seller. If the house is obviously overpriced or low is all you can offer, go ahead and do it, but keep in mind that the seller might take it as a personal insult and may not want to deal with you. Consider making a more realistic first offer, if it all possible.

If you offer too high, you may never find out if the seller had a lower point, and might pay more than you needed to for a home. Try to obtain a good idea of the market and of that particular home's market value before you make any type of offer.

Be sure when requesting an agents help for making an offer that you are talking to the buyers agent, not the sellers. A seller's agent has a specific duty to get the best deal he can for the seller. Some agents will offer you a list of comparable properties and the prices they've sold for but will not help you decide the offer. Unethical agents might even try to talk you into a higher offer because they know what the seller is hoping to get. A buyer's agent, however, will help you determine what to offer. Not only will the agent run comparables for you, but will also help you plan and write the offer and probable even present it for you. Remember that having a buyer's agent doesn't cost you anything - their commission comes from the sale of the home.

Visit your county courthouse (or equivalent place where property records are kept). Ask the staff to explain how to decipher deeds or other records that indicate sales prices. An example: Possibly each tax dollar represents $500 in sales price, so it's easy to calculate how much the buyer paid for the property. Home buyers around the US will find huge differences in the ease of this type of search. Some record-keeping systems are much simpler to access than others. Some localities have records available on disk or online, but most do not.

This type of search is easiest to accomplish when you know the address of specific properties or the names of the buyers or sellers. If you attend open houses, keep the listing sheets. When the house has sold, go get the details. Attending open houses helps you track the condition of homes. It's hard to make comparisons by looking only at recorded stats. Check your local courthouse as well because some records could include home facts, sketches or even blueprints.

You might consider ordering an appraisal before you make an offer, however, you want to be sure that the results of your appraisal are not publicized because opinions can vary by appraiser. Also check out advertised prices for similar homes because it can give you an idea of average asking prices... keep in mind, however that the sales price is probably different than the asking price. Consider taking a look at your home's tax value, but it probably won't match exactly the market value of the property.

Other factorsBe sure to consider other factors when deciding an offer amount. If the house has only been on the market for a short time, the sellers may not take the first offer, especially if it's lower than they'd desired. If it's been up for awhile or they need to move, they may be more motivated. Compare with other houses for sale in the same neighborhood or area. Look for repairs or updates needed, especially those that could be costly like roofs, plumbing, electrical, windows, baths or kitchens. If the repairs could be costly and immediate, the offer price could be lower if the seller understands why it is. Remember that your final decision on what to offer will come as a combination of your instinct and research.

For more information about preparing a contract Click Here.
Before you offer, be sure to consider the Resale Potential of Your New Home.
Click Here to contact your realtor!

HOME BUYING TIPS

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:13:49 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

10 Things Not To Do When Home Buying It's Not Yours Until the Paperwork is Complete

You're counting down the days until closing, the sellers have accepted your offer, the lender has you pre-approved and the house is officially under contract. Does this make the home yours? Nope - nothing is certain until all the paperwork has been signed, and the keys are in your hand. There are still some things that can happen before you close, and if you're not careful about your actions between now and closing, you might accidentally slow things down, cause yourself stress, or worse, break the deal. Here is some advice on what NOT to do until the ink is dry:

1. Don't Change Jobs

Banks are always nervous about lending money, and usually a mortgage is the most a person may ever borrow. Banks like to see consistency in your job history. They are less nervous if you change jobs within the same field, but they prefer if you stay put, especially when waiting for mortgage approval. Until the keys are in your hands, don't change jobs unless it's absolutely necessary.2. Don't Make a Large Purchase

It is wonderful news if you've just found out your credit is great. However, making a major purchase can quickly change your credit rating, because it changes your debt-to-income ratio. Although a new car would look great in the driveway of your new home, the car payment will not look great to those lending you money. They may decide not to lend you money after all. It's better to wait until after closing to make any major purchases, including furniture, cars, etc. If you absolutely must make a large purchase, it's a good idea to talk to your loan officer before you do it.3. Don't Give Earnest Money Directly to a For Sale By Owner

Sad as it is, sometimes a seller spends a buyer's deposit money prior to closing. If the transaction doesn't take place, even for valid reasons, like financing problems, repairs, etc., the buyer ends up fighting to retrieve their funds. Your deposit is probably safer if placed in a trust account. Some sellers don't realize or understand that deposit funds are to be applied to your closing expenses. Find a neutral party, preferably an attorney, someone who can hold your deposit until you close. It's also a good idea that your contract defines what happens to these funds if closing never takes place.4. Don't Forget to Switch Utilities

It may seem simple to arrange for utilities to be started or stopped, however many people forget to cancel or apply for utility service. As soon as you have a contract, it's a good idea to call the utility company. Find out how many days lead time they need in order to switch the service, and be sure they'll be discontinuing services at your old home. Depending on how far the move between your old home and your new one, you may have to contact a different utility company for the same service.5. Don't Forget Hazard Insurance

Hazard Insurance is another often forgotten task that some buyers scramble to take care of right before closing. Before you can close, a lender will want ensure that you have some type of coverage for the new home. Obtain this coverage as early as possible in order to avoid delaying the closing. In some areas, other types of insurance coverage may be required. Your lender can indicate what insurance requirements there are in your area.6. Don't Allow Emotions to Take Over

While searching for a home to buy, it's important to be realistic. There is no perfect home, although there is a home perfect for you. If there are repairs needed, don't allow the seller's refusal to do a small repair ruin the deal or your dreams. Often, it isn't a big deal for the buyer to make small repairs. However also keep in mind that some repairs are too big, so don't allow yourself to fall in love with a house that you may not be able to handle, financially or emotionally. Decide beforehand what kind of repairs you can realistically handle and then stick with that decision when looking for homes. Remember to maintain a good attitude and keep a cool head throughout the entire process, including during and after an inspection, as well as at closing. 7. Don't Make Friends with the Seller

Although it's important to be cordial, it isn't a great idea to get into a lot of discussion with the seller. No matter how nice you are, the home you are buying used to be theirs and you may just hurt their feelings by making a comment you think is fine. Everyone makes changes to their new home, but some sellers don't like change and a casual statement could end up costing you when issues about repairs or other things come about. Be friendly, but don't make friends with the sellers. Remember, it's not always a good idea to mix business with pleasure. 8. Don't Panic if the Appraisal Comes in Low

CLICK HERE

9. Don't Ignore Lender Requirements

Every lender will have certain requirements or documentation. Listen carefully and provide everything they need in a a timely manner if you want things to go as quickly as possible. Your closing may depend on it. 10. Don't Do Things Alone

If you decided to work with an agent, part of your agent's job is making sure things go smoothly and that closing is completed. A good agent should be tracking most of the day to day details that involve the buyer, the seller, the lender or the seller's agent. Don't let your agents off the hook by neglecting to ask for their help. Remember, they're getting paid to help you.
To contact your agent today, click here.
Also, check out Tips for New Home Buyers!

HOME BUYING SUCCESS

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:12:44 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

11 Steps to Home Buying Success

Despite the fact that real estate transactions can vary based on laws and customs were you live, some home buying steps are standard, although the order in which they are accomplished may change depending on your location.

Once you begin to understand all parts of your home buying journey, you'll feel confident with all the requirements of those involved in your transaction, as well as yourself.

Put your finances in orderBefore you apply for a home loan, it's a good idea to find out what your credit reports say about your financial history. Your credit report gives lenders an ongoing look on how you manage finances. Your lender will use this to determine your interest rate and other loan terms. If it's been awhile since you last looked, you might be surprised at the content of each report because errors are sometimes reported. There are ways you can clear up any mistakes.

Decide on your needs and wantsEven if you find yourself short on funds, buying a house isn't all that difficult if you are already familiar with your real estate market and have determined what your needs and wants are before you start looking at homes.

Familiarize yourself with the mortgage industryIn order to have home buying success, it is crucial to find both right lender and the right loan. Only you can determine which lender can best meet your needs, so it's a good idea to have a bit of background about the loan process before you start talking to a lender.

Get Pre-Approved for a mortgageBefore house hunting seriously, before approaching a seller, before any decisions about your home, you need to find out how much house you can afford. To do so, talk to a lender. When a seller is presented with two similar offers, and one has no paperwork, and the other has a letter from the bank stating he has been approved for a mortgage in the amount being offered, the seller will probably chose the buyer that has been pre-approved. Wouldn't you?

Working with Real Estate Agents It's important to understand agent duties and loyalties before you make the first phone call to find an agent. Real estate agents represent buyers, sellers and in some states they work as a facilitator for either party - or both. Find a Real estate agent who will work for your best interests and not someone else's.

The fun part - Finding A HomeSome ideas of excellent ways to see what is available: from your agent obtain a sheet of multiple listings to study, read classified ads in newspapers, and pick up magazines (usually free) with Houses for Sale, you might even spend free afternoons driving through neighborhoods to preview the area and homes available. You can even search the internet for thousands of listings.

Tasks to accomplish before you offerDeciding what you want your house to look like, including structure and features, isn't the only important part of your purchase. Also review things such as it's resale potential, heating system efficiency, if the square footage reported is accurate or if there are any other rights to the property.

Making an offerThere are different real estate laws and customs throughout the United States, so there isn't a specific set of instructions that can cover how to make an offer, but there are a few tips that can help, no matter where you live. These include: what comes with the house, (appliances, any furnishings, outside play set, etc.) date of possession, decide how much to offer, any info seller needs to disclose, and if lead paint disclosures are required.

Home Inspections and other testsIt's critical for you to decide which inspections and tests you want to perform... some state require them before the final offer to purchase, while others take place after an offer is final. You can talk to either your agent or an advisor to find out when they should be done and how to handle them. They can also inform you of additional types of testing for your specific area.

Correcting or avoiding problems at the last minuteAs your closing date nears, everyone involved in your real estate transaction should check its progress on a daily basis, because staying on top of things means you'll know immediately if there's a problem that must be dealt with. Here's a bit of information that focuses on a few common problems that home buyers must deal with before they close on a house. If you stay on top of things, especially as your closing date nears, you'll know immediately if a problem arises or needs to be dealt with. Everyone involved in your transaction should check its progress on a daily basis. A few problems that you might encounter before closing could include: dealing with a low appraisal, changes in your credit (don't make a major purchase or change jobs until after you've closed), switch utilities, be sure insurance is lined up and don't let your emotions take over.

ClosingMost of the problems are behind you now and you're on your way to closing, also called settlement, the event that transfers ownership of the property to you. Just a few more things to learn, a few more things to do, and you're there! Closing or settlement, as it's also called, refers to the event of transferring ownership of the property to you! Problems should be behind you and once you do a final walk through of the home, you should be ready to sign.

Congratulations!!
Don't ever hesitate to ask questions... whether this is your first home buying experience, or your 21st, it's important to be sure you understand the entire process. You are spending a lot of money, more than you may ever spend again, and you are making a long term commitment. You'll feel better as will those involved if you know what is happening. The steps outlined are a general guide. Every issue you encounter will be specific to your transaction. These issues can best be handled or explained by those helping you complete the deal. Enjoy the journey!

Also check out Tips for New Home Buyers
If you're also selling your home, click here
Don't forget to look for Home Warranties for Buyers and Sellers

1ST TIME HOME BUYERS

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:11:41 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

Terrific Tips for First Time Home Buyers

It might surprise a first time home buyer that they aren't the only ones who feel confused about the whole home buying process. Almost all home buyers feel the same way, even those who have purchased a home before. It's easy to forget some or all of the home buying steps you've followed in the past. Here are some tips on how to begin:

Educate YourselfYou may have relatives or friends who live in another state or area. They might have some good advice for you, but chances are that the home buying process varies greatly in different areas, so do not make the mistake of relying solely on their advice. Educate yourself about the home buying customs where you want to live. You can talk to realtors, mortgage brokers, loan officers, or even friends who've recently moved into your area. Also the public library might be a good resource.

How to Get Educated Approach a real estate agent by explaining that you do not want to enter into an agreement for representation at the current time. However, find out if they will talk to you about a typical home buying scenario. Any agent that won't take a few moments of time to help you understand home buying, probably, isn't an agent that you want to work with. If you have to make several calls to find someone willing to help you, it will be worth the effort. If you aren't comfortable talking to a real estate agent, you can always try a mortgage broker or a loan officer. Everyone will have a different perspective of the process but all should be able to give you a basic overview or understanding of the home buying process.

Questions to Ask An AgentOnce you find answers to these questions, you'll have a much better idea of the basic home buying customs in your area.

If I decide to work with an agent, once I've decided to purchase a home, will the agent help me compose my offer? If not, who would be willing to help? (Lawyer, Broker, etc.) Some agents use fill-in-the-blank forms and if so, ask for a sample to take home and study and possibly use for ideas to create your own.
Will an agent give me a sample copy of typical disclosures? What kind of disclosures are sellers required to give to their buyers? Does it differ by city or area?
Is a home inspection standard in the area? Are there other types of inspections recommended? How much does an inspection usually cost, and who pays the cost, buyer or seller? When is the inspection usually done, before or after an offer or closing?
Is a survey of the property required, and if so, who pays for it, the buyer or the seller?
If I want to be sure the deed to the title is problem free, do I need to contact a title company? Does someone else do this for me? What is the average cost for this service?
Who acts as settlement agent, the person who puts together final paperwork for you to sign? (attorney, title company personnel, real estate broker, other)? Who will put together final paperwork for signing (otherwise known as settlement agent)? Several options could include title company, real estate broker, attorney, etc.
Other than loan costs, what's the average total cost for other closing fees? What is the average total cost of closing fees, other than the cost of the loan? What is included in these fees, such as taxes, agency fees, etc.?
Once my offer has been accepted, how long does it normally take to close on a home? What might hold closing up or make it difficult?
What can I, as the buyer, do to ensure things go smoothly?

Stay CalmIt is very likely that you will hit a few snags on the way to closing - most people do. However, if you keep your head clear, you will be able to work with the right people to resolve any issues that pop up and the transaction will end up smoothly. There are many details to keep track of, so remember not to over react if something goes wrong, and every problem has a solution.

Now BeginNow that you've reviewed this section, your next steps are the same as they would be for every home buyer. Relax, take a few deep breaths and then begin! Dig into the details and simply start the home buying process. If you allow yourself to enjoy it, the whole experience can be fun!

Helpful links for first time home sellers: What is Home Staging and Advice on Staging Your Home
Also beware of 10 Things NOT to do when Home Buying

MORTGAGE RESOURCES

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:10:26 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

Resources

For Sale By Owner

2 Bedrooms 2 Baths Single Family Jackson NJ
3 Bedrooms 2 Baths Jackson NJ
5 Bedrooms 4 Baths Single Family Westfield NJ
7 bedroom Mother/Daughter New Jersey
Keansburg NJ GREAT BUY!

Realtors

Tammy Shaw * 45 City Square Hoschton, GA 30548 * 706-654-4100 X720 * Cell: 404-717-7945 Fax: 706-658-0121 www.TammySellsGeorgia.com

Ravenna "Ray" Taylor Realtor®/Associate Abundant Real Estate Direct line: (609)267-9117 http://www.raytaylorhomes.com/

Ravenna "Ray" Taylor

· CENTURY 21 Abundant Real Estate • 1862 Burlington/Mount Holly Rd, Mount Holly, NJ 08060

phone 609-267-7653 • fax 609-261-8547 • RayTaylorC21@aol.com

Gina M. Washington * Century 21 Town & Country * 350 Cranbury road East Brunswick, NJ 08816
Direct: 732-208-4766 Office: 732-257-3000 ext. 30 Fax: 732-238-7188 E-mail: Encore1103@comcast.net www.GinaWashingtonRealtor.com

Local Information

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Other Helpful Resources for Buyers

Terrific Tips for 1st Time Buyers
The first place to look when thinking of buying a home.

Steps to Home Buying Success
Home buying is a complicated process, especially if this is your first time. Where do you start? These steps will help you through the process to make your home buying experience a success.

Home Buying Mistakes
Whether you are just thinking about buying or already mid-way through the process, every buyer can benefit from these tips - and avoid these mistakes!

Making an Offer
A guide for making an offer on a home.

Handling Home Buyers Remorse
How to handle commmon worries.

Resale Potential of New Home
It may seem strange, but before buying a home, consider its resale potential.

Other Helpful Resources for Sellers

Steps to Take Before You Sell
Selling a home can be difficult. Unsure about whether or not to use an agent? Want to get the best price for your house in the least amount of time? We've compiled several tips to guide you on your journey.

Home Preparation Tips
Ideas for tips on how to prepare your home for sale.

Preparing Your Home to Show
More ideas on how to prepare your home for showing.

What Is Home Staging?
Heard the term, but not sure what it means? We've got the explanation and ideas for you!

The Importance of Curb Appeal
The outside of your house is as important as the inside. Find tips to improve your curb appeal.

The Realities of Home Showings
Once you're ready to show, be prepared for the realities of showing - save yourself frustration!

Passing Home Inspection
A few ideas on how you can better help yourself pass your home inspection.

Resources for both Buyers and Sellers

Why Good Houses Don't Sell
Buyers take advantage of it, Sellers beware!

Before Signing an Agreement
Using an agent can be a great idea, but before you sign an agreement be sure you know which one you want.

Preparing Contract Contingencies
Suggestions of things to put in the contract.

Dealing with a low appraisal
Appraisal came in low? Don't panic - there are options.

MORTGAGE GLOSSARY

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:09:19 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

Mortgage Terms & Definitions
Quick Find Links: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A
Acceleration Clause
A provision in a mortgage that gives the lender the right to demand payment of the entire outstanding balance if a monthly payment is missed.

Adjustable Rate Mortgage (ARM)
A mortgage with and interest rate that fluctuates according to the movements of a predetermined index. There are several types of ARM's, some change quicker than others, but all have a ceiling cap.

Alternative Financing
Mortgage options available below market rate including ARM's, buy down's and graduated payment mortgages (GPM's).

Amortization
The gradual repayment of a mortgage by installments.

Amortization Schedule
A timetable for payment of a mortgage showing the amount of each payment applied to interest and principal and the remaining balance of the loan.

Annual Percentage Rate (APR)
The total cost of your mortgage loan expressed as an annual interest rate. This includes the base interest rate, mortgage insurance, origination fees, and some other related fees.

Appraisal
An opinion by a licensed real estate appraiser regarding the fair market value of a property.

Appreciation
Difference between the increased value of a property and the original cost of the property.

Assumable Loan
Usually for a small assumption fee, a new buyer can take over or assume the loan of the previous homeowner, saving closing cost and loan origination fees. Some are non-qualifying most are through qualification.

B
Balloon Payment
A loan with monthly payments insufficient to pay off the balance in the specified term; the balance must be paid in full when the loan comes due.

Broker (Mortgage)
An individual or company that for a fee acts as an intermediary between borrowers and lenders.

Broker (Real Estate)
A person who has a real estate broker's license, who may not only make real estate transactions for others in exchange for a fee, but also may operate a real estate business and employ salespersons and other brokers.

C
Cap
A provision of an ARM limiting how much the interest rate or mortgage payments may increase or decrease.

Cash Reserve
A requirement of some lenders that buyers have sufficient cash remaining after closing to make the first two monthly mortgage payments.

Clear Marketable Title
A title that is free of liens or legal questions as to ownership of property.

Closing
The meeting at which a sale of a property is finalized by the buyer signing the mortgage documents and paying closing cost. Also known as "settlement."

Closing Costs
Expenses (over and above the price of the property) incurred by buyers and sellers in transferring ownership of a property. Also called "settlement costs."

Community Home Buyer's Program
An alternative financing option that allows households of modest means to qualify for mortgages using nontraditional credit histories, 33 percent housing-to-income and 38 percent debt-to-income ratios, and the waiver of the usual two payments cash reserves at closing.

Condominium - A form of property ownership in which the homeowner holds title to an individual dwelling unity plus an interest in common areas of a multi-unit project, and sometimes the exclusive use of certain limited common areas.

Contingency
A condition that must be met before a contract is legally binding.

Conventional Mortgage
Any mortgage that is not insured or guaranteed by the federal government.

Convertible ARM
An adjustable-rate-mortgage that can be converted to a fixed-rate mortgage under specified conditions.

Cooperative
A type of multiple ownership in which the residents of a multi-unit
housing complex own shares in the corporation that owns the property, giving each
resident the right to occupy a specific apartment or unit.

Covenant
A clause in a mortgage that obligates or restricts the borrower and that, if violated, can result in foreclosure.

Credit Report
A report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's credit worthiness.

D
Debt-to-Income Ratio
Formula used to qualify borrowers. The ratio expresses, as a percent, the amount of monthly debt payments in relation to the amount of monthly income of a borrower(s).

Deed
The legal document conveying title to a property.

Deed of Trust
The document used in some states instead of a mortgage; title is conveyed to a trustee rather than to the borrower.

Default
The failure to make a mortgage payment on a timely basis or to otherwise comply with other requirements of a mortgage.

Delinquency
A loan in which a payment is overdue but not yet in default.

Depreciation
A decline in the value of a property; the opposite of "appreciation."

Disclosure
Document which describes all conditions of mortgage loan including terms and interest rates.

Discount Points
A one time charge by the lender to increase the yield of the loan. A point is one percent of the amount of the mortgage.

Down Payment
The part of the purchase price which the buyer pays in cash and does not finance with a mortgage.

Due-on-Sale Clause
A provision in a mortgage allowing the lender to demand repayment in full if the borrower sells the property securing the mortgage.

E
Earnest Money
A deposit made by the potential home buyer to show that he or she is serious about buying the house.

Equal Credit Opportunity Act (ECOA)
A federal law that prohibits lenders from denying mortgages on the basis of the borrower's race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs.

Equity
A homeowner's financial interest in a property. Equity is the difference between the fair market value of a property and the amount still owed on the mortgage.

Equity Loan
A loan based on the borrower's equity in his or her home.

Escrow
The holding of documents and money by a neutral third party prior to closing; also, an account held by the lender (or servicer) into which a homeowner pays money for taxes and insurance.

Exclusive Agency Listing
A listing contract in which the agent has the sole right to sell the home, though the sellers are not bound to pay the commission if they produce the buyer.

Exclusive Right-to-Sell Contract
A listing contract in which the seller gives the real estate broker the sole right to sell; the person receives a commission, regardless of who produces the buyer.

F
Fair Credit Reporting Act
A consumer protection law that regulates the disclosure of consumer/credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one's credit record.

FHA Mortgage
A mortgage that is insured by the Federal Housing Administration. Also referred to as a "government" mortgage.

First Mortgage
A mortgage that has first claim in the event of default.

Fixed Rate Mortgage
A mortgage in which the interest rate does not change during the entire term of the loan.

Flood Insurance
Insurance that compensates for physical property damages resulting from flooding. It is required for properties located in federally designated flood areas.

Forbearance
The lender's postponement of foreclosure to give the borrower time to catch up on overdue payments.

Foreclosure
The legal process by which a mortgaged property may be sold when a mortgage is in default.

G
Graduated Payment Mortgage (GPM)
A mortgage that starts with low monthly payments that increase at a predetermined rate. The initial monthly payments are set at an amount lower than that required for full amortization of the debt.

H
Hazard Insurance
Insurance coverage that compensates for physical damage to a property from fire, wind, vandalism, or other hazards.

Homeowner's Insurance
An insurance policy that combines personal liability coverage and hazard insurance coverage for a dwelling and its contents.

Homeowner's Warranty (HOW)
A type of insurance that covers repairs to specified parts of a house for a specific period of time. It is provided by the builder or property seller as a condition of the sale.

I
Impound
The portion of a borrower's monthly payments held by the lender to pay taxes, hazard insurance and mortgage insurance.

Index
The interest rate to which changes in an adjustable-rate-mortgage are pegged.

Interest Rate
The fee charged for borrowing money.

J
Judicial Foreclosure
A court procedure used by lenders to secure clear title to a property under a defaulted real estate loan.

Jumbo Loan
A loan which is larger (more than $322,700) than the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Because jumbo loans cannot be funded by these two agencies, they usually carry a higher interest rate.

L
Late Charge
The penalty a borrower must pay when a payment is made after the due date.

Lien
A legal claim against a property that must be paid off when the property is sold.

Lifetime Cap
A provision of an ARM that limits the highest rate that can occur over the life of the loan.

Listing Contract
A contract with a broker or firm the sellers hire to represent them in the sale of their home, according to the terms of sale that they specify. In exchange for producing a ready-willing-and-able buyer, the agent is paid a commission.

Loan Application Fee
A lender's fee, usually ranging from $75 to $300, which the buyer must pay when applying for a mortgage.

Loan Commitment
A formal offer by a lender stating the terms under which it agrees to lend money to a home buyer.

Loan Origination Fee
A fee charged by the lender for processing a mortgage.

Loan Servicing
The collection of mortgage payments from borrowers and related responsibilities of a loan servicer.

Loan-to-Value Ratio (LTV)
The relationship between the unpaid principal balance of the mortgage and the appraised value (or sales price if it is lower) of the property.

Lock-In
A written agreement guaranteeing the home buyer a specified interest rate provided the loan is closed within a set period of time. The lock-in also usually specifies the number of points to be paid at closing.

M
Margin
The set percentage the lender adds to the index rate to determine the current interest rate of an ARM.

Market Rate
The average rate charged by lenders for conventional, fixed-rate loans.

Mortgage Banker
A company that originates mortgages exclusively for resale in the secondary market.

Mortgage Broker
An individual or company that for a fee acts as an intermediary between borrowers and lenders.

Mortgage Insurance
(Also known as Private Mortgage Insurance (PMI)) Insurance provided by nongovernmental insurers that protects lenders against loss if a borrower defaults. Fannie Mae generally requires private mortgage insurance for loans with loan-to-value (LTV) ratios greater than 80 percent.

Mortgage Insurance Premium (MIP)
The fee paid by a borrower to FHA or a private insurer for mortgage insurance.

Mortgage Note
A legal document obligating a borrower to repay a loan at a stated interest rate during a specified period of time; the mortgage note is secured by a mortgage.

Mortgagee
The lender in a mortgage agreement.

Mortgagor
The borrower in a mortgage agreement.

Multiple Listing Service (MLS)
A networking system, frequently on computer, in which a number of real estate firms share information about their client's homes that are for sale.

N
Negative Amortization
A gradual increase in the mortgage debt that occurs when the monthly payment is not large enough to cover the entire principal and interest due. The amount of the shortfall is added to the unpaid principal balance to create "negative" amortization.

Notice of Default
A formal written notice to a borrower that a default has occurred and that legal action may be taken.

O
Offer to Purchase and Acceptance
An offer of purchase that has been signed by both buyer and seller. A firm contract that outlines all details of the property transaction. Also known as a contract of sale or sales contract.

Offer to Purchase or Purchase Offer
A document that list the price, conditions, and terms under which the buyer is willing to purchase a property. Also known as an earnest money agreement, contract of purchase or deposit receipt.

Open Listing
A listing contract in which sellers hire more than one firm or person to sell their home, and only the one who produces the buyer is entitled to the commission,

Origination Fee
A fee paid to a lender for processing a loan application; it is stated as a percentage of the mortgage amount.

P
Payment Cap
A provision of some ARM's limiting the amount by which a borrower's payments may increase regardless of any interest rate increase; may result in negative amortization.

PITI
Acronym for principal, interest, taxes, and insurance
the components of a monthly mortgage payment.

Points
A one time charge by the lender to increase the yield of the loan; a point is 1 percent of the amount of the mortgage.

Pre-approval
The process of determining that a borrower is credit approved up to a predetermined amount. The borrower is credit approved pending the locating of a home that meets the predetermined loan criteria.

Prepayment Penalty
A fee that may be charged to a borrower who pays off a loan before it is due.

Prequalificiation
The process of determining how much money a prospective home buyer will be eligible to borrow before a loan is applied for.

Principal
The amount borrowed or remaining unpaid; also, that part of the monthly payment that reduces the outstanding balance of a mortgage.

Private Mortgage Insurance (PMI)
Insurance provided by nongovernmental insurers that protects lenders against loss if a borrower defaults. Fannie Mae generally requires private mortgage insurance for loans with loan-to-value (LTV) percentages greater than 80 percent.

Purchase and Sale Agreement
A written contract signed by the buyer and seller stating the terms and conditions under which a property will be sold.

Q
Qualifying Ratios
Guidelines applied by the lenders to determine how large a loan to grant a home buyer.

R
Radon
A radioactive gas found in some homes that in sufficient concentrations can cause health problems.

Rate Lock
A written agreement guaranteeing the home buyer a specified interest rate provided the loan is closed within a set period of time. The lock-in also usually specifies the number of points to be paid at closing. Also known as Lock-in.

Real Estate Agent
A person licensed to negotiate and transact the sale of real estate on behalf of the property owner.

Real Estate Settlement Procedures Act (RESPA)
A consumer protection law that requires lenders to give borrowers advance notice of closing costs.

Realtor
A collective membership mark that may be used only by real estate professionals who are members of the National Association of Realtors and subscribe to its strict code of ethics.

Refinancing
The process of paying off one loan with the proceeds from a new loan using the same property as security.

Reverse Mortgage
Also called "equity conversion mortgage," these loans permit senior citizens to convert the equity in their homes to income. The lender makes monthly cash payments to the homeowner, and repayment is deferred for a set period or until the homeowner dies and the house is sold.

S
Second Mortgage
A mortgage that has a lien position subordinate to the first mortgage.

Secondary Market
The buying and selling of existing mortgages.

Seller Take-Back
An agreement in which the owner of a property provides financing, often in combination with an assumed mortgage.

Settlement
The meeting at which a sale of a property is finalized by the buyer signing the mortgage documents and paying closing cost. Also known as "Closing."

Settlement Sheet -The computation of costs payable at closing that determines the seller's net proceeds and the buyer's net payment.

Survey
A drawing or map showing the precise legal boundaries of a property, the location of improvements, easements, rights of way, encroachments, and other physical features.

T
Tenancy by Entirety
A type of joint ownership of property that provides right of survivorship and is available only to a husband and wife.

Tenancy in Common
A type of joint ownership in a property without right of survivorship.

Title
A legal document evidencing a person's right to or ownership of a property.

Title Company
A company that specializes in examining an insuring titles to real estate.

Title Insurance
Insurance to protect the lender (lender's policy) or the buyer (owner's policy) against loss arising from disputes over ownership of property.

Title Search
A check of the title records to ensure that the seller is the legal owner of the property and that there are no liens or other claims outstanding.

Treasury Securities
Treasury securities and T-Bills are common indexes for adjustable rate mortgages (ARMS).

Truth-in-Lending (TIL)
A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage including the "annual percentage rate (APR)" and other charges.

U
Underwriting
The process of evaluating a loan application to determine the risk involved for the lender. It involves an analysis of the borrower's credit worthiness and the quality of the property itself.

V
VA Loan
A loan that is guaranteed by the Department of Veterans Affairs. Also referred to as a "government" mortgage.

Variable Rate Mortgage
Adjustable Rate Mortgage.

Vested
One has a right to use a portion of a fund, such as an individual's retirement fund.

Z
Zero Percent Financing
A loan with no interest in the contract. The IRS imputes 10 percent for both borrower and lender.

Zoning
The right of a community, under its police power, to dictate the use of property within its boundaries.

LOAN PROGRAMS

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:08:10 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

Loan Programs and Loan Options
In today's lending market there are many options to choose from. Sometimes the differences in these programs can be subtle but signi ficant. We offer a variety of loan programs to fit your needs. This page provides an overview of many of the different programs on t he market. Contact us to find out what programs are currently available, or for any other related questions.

2ND MORTGAGE LOANS
A- THRU D PROGRAMS
125% 2ND MORTGAGE
INVESTOR LOANS
Click here to contact us for information on other less common programs.

80/15/5 - This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/10.

FHA MORTGAGE ~V Backed by the Department of Housing and Urban Development this mortgage offers the borrower the ability to put as little a 3% down payment and they can even finance ~Sallowable~T closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.

203K FHA MORTGAGE ~V Same as FHA above but with the ability to finance home improvements that are needed. One mortgage is given based on the value plus improvements up to 115% of the future value. These improvements must be over $5000 and can be for a new kitchen, new bathroom, to add a garage or to structurally improve the property. They cannot be to add a swimming pool etc~E

VA MORTGAGE ~V Backed by the Veterans Administration and the federal government it is similar to FHA except that you have to be a qualified Veteran or military person.

JUMBO LOANS - Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.
Cash out and No cash out refinance are allowable. Single family detached, Condo~Rs, PUD~Rs and single-family second homes can be financed with no prepayment penalty.

EMERGING MARKETS PROGRAM ~V 0% Down payment required and closing costs can be financed up to 105% of the purchase price. Only single-family homes that will be owner occupied are eligible. First time home buyer status not required and there are no income limits.

ZERO DOWN PROGRAMS ~V Same as above only the borrower pays for closing costs or can have the seller contribute up to 6% towards closing costs.

NO DOC/STATED INCOME - Loans where your income is not requested or verified with as little as 10% down are stated income loans. There are several varieties of the "no-doc" loan today. Basically the type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose even income but select a program that doesn't calculate debt-to-income ratios allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers.

INTEREST ONLY - Shorter term adjustable rate mortgage where borrower is not required to make payment on the principal.

FLEX 97% - Similar to FHA but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 680.

A- THRU D LOANS ~V These mortgages are for the credit challenged. They can vary from slightly damaged credit to severely damaged. Whatever the situation we have a mortgage that will get you back on track.

2^ND MORTGAGE LOANS ~V Subordinate to the first mortgage these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.

125% 2^nd MORTGAGE ~V Same as above but the 2^nd mortgage we will lend up to 125% of the value of the home.

HIGH DEBT RATIO LOANS - Borrowers having the ratio of their monthly bills to their monthly income higher than 50% is considered a high debt ratio. Loan programs are available for these borrowers, allowing them to finance the purchase of a home or property.

CONSTRUCTION LOANS - Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 90% of the cost of land plus the costs of construction. We offer a one time fixed rate closing or the traditional ARM products.

INVESTOR LOANS ~V Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced these programs have many variations such as NO DOC, LIMITED DOC and FULL DOC. PROGRAM NOT AVAILABLE IN NEW YORK.

Click here to contact us for more information on any of these programs.

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Family First Mortgage

Juan Valdez (Family First Mortgage Corporation) — Mon, 05 Nov 2007 13:06:54 -0600

"First Time Home Buyer Down Payment Assistance Programs Available Apply Today For Your Free Mortgage Application and Free Mortgage Consultation""

Family First Mortgage 732-216-1728Info@YourFamilyHomeLoans.Com
Online contact form
Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462

	QUICK RATES
CONFORMING - 6.25 30 YEAR FIXED CONFORMING - 5.25 1 YEAR ARM CONFORMING - 5.50 3/1 YEAR ARM CONFORMING - 5.875 5/1 YEAR ARM CONFORMING - 6.00 7/1 YEAR ARM CONFORMING - 5.875 15 YEAR FIXED JUMBO - 6.625 30 YEAR FIXED JUMBO - 6.125 15 YEAR FIXED JUMBO - 5.125 1 YEAR ARM JUMBO - 5.75 3/1 ARM JUMBO - 5.875 5/1 ARM JUMBO - 6.25 7/1 ARM JUMBO - 6.50 10/1 ARM

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Hello and Welcome

Now is the perfect time to take advantage of low interest rates and an exceptional market. Feel free to apply online, browse our calculators and tools, learn about our loan programs, and much more. We offer custom solutions for every residential mortgage financing situation. Whatever your residential financing needs, we will tailor a loan that's right for you.

Whether you are buying, selling, refinancing, or building your dream home, you have a lot riding on your loan specialist. Since market conditions and mortgage programs change frequently, you need to make sure you're dealing with a top professional who is able to give you quick and accurate financial advice. We have the expertise and knowledge you need to explore the many financing options available.

Ensuring that you make the right choice for you and your family is our ultimate goal. And we are committed to providing our customers with mortgage services that exceed their expectations. We hope you'll browse our website, check out the different loan programs we have available, use our decision-making tools and calculators, and apply for a loan or pre-qualification in just a few steps.

Today's technology is providing a more productive environment to work in. For example, through this Web Site you can submit a complete online secure loan application, pre-qualify for a home loan or you can request an update on your loan in process and much more! These tools have allowed us to provide a higher level of service to our clients who utilize the Internet in their daily lives. By applying online, your application is received immediately! We will be notified by email and be prompted to return to our secure server to retrieve your application. This will enable us to start processing your loan today!

After you've applied, we'll call you to discuss the details of your loan, or you may choose to set up an appointment with us using our online form. As always, you may contact us anytime by phone, fax or email for personalized service and expert advice. Thanks again for visiting our Online Mortgage Center!

Great Interest Rates

Look no further for the best rates along with the best service. We are here to help make purchasing a new home or refinancing your current home as easy as possible. Use our online application process to prequalify or fill out our full application to speed up the application process.

Let us help you get to a better place. Our goal is to help you find immediate relief from high-interest bills. When you're saving money instead of paying on credit cards, you're in a better place. And that's just where we want you to be.

Save hundreds every month. Our loan officers compete to save customers the most money. They will get to know you, answer your questions, customize a loan for you and always be by your side. Their motto is: Integrity, Intensity, True Customer Service.

On average, our customers save $664 a month. Imagine finding twenty extra dollars in your pocket - every day! You might even save twice that amount, just by letting us show you how to tap into the equity in your home.

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Licensed by the NJ Department of Banking and Insurance N.J.A.C. 3:2-1.4(b) License #L050462 Family First Mortgage Corp. 300 Kimball Street Suite 201, Woodbridge, NJ 07095

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