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Buying a Home at the Jersey Shore - What You Need to Know...Mortgage Lenders in New Jersey and Mortgage Loans
Buying a home at the Jersey Shore?  What you need to know about mortgage lenders in New Jersey and mortgage loans.
Getting a home mortgage loan might seem daunting these days.  There are choices you need to make, much like the choices you make in the type of real estate agent representation.
Generally, mortgage lenders in New Jersey fall into two categories, direct lenders and mortgage brokers.
Direct lenders, either a bank or mortgage banker, fund your loan upfront but will usually sell many loans in a package, so after closing there might be another company servicing your mortgage.
Mortgage brokers generally represent several lending sources and act as intermediaries between you and several lenders.
No matter your choice, find a mortgage lender in New Jersey you trust and feel comfortable working with.  Ask friends and family for referrals, talk to your real estate agent.  Learn as much as possible about the individual, his or her experience and the company he or she represents before moving forward.  Learn about the fees and costs of the loan product.
There are also several types of loans offered by mortgage lenders in New Jersey.  The most common are conventional, FHA, VA and USDA.
... more

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