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Financing Info for
Bergen County Homes
Getting a mortgage is much safer today. For years I fought against the slick marketing of unlicensed mortgage brokers; today they don’t exist. New regulations require mortgage bankers to be licensed. This is a highly significant change but you can still get into trouble.
Did you know that when you shop for a mortgage online you could lower your credit score? Everyone loves the internet – we use it to shop, gather all sorts of information, network with people and just have fun. However, shopping for a mortgage through the web can be a disaster.
Going to your local bank can be another disaster. Some banks hire people who go from branch to branch just to service loan applications. These folks often have no idea about property taxes and insurance costs. This means that you can walk away with a loan figure that’s hundreds of dollars off.
While getting a mortgage today is much safer, it’s also infinitely more complicated when it comes to processing. Let’s take a simple example.
You want to buy a condominium, find one on the web, see it at an open house and write an offer. With 5% down you are advised to get a FHA mortgage. A banker gives you a piece of paper which “qualifies” you. You go into contract, have an inspection and a few weeks later your mortgage is rejected because the condo complex isn’t FHA approved. Whoops! The mortgage banker you used forgot those rules changed too...
To be sure this does not happen to you, I insist that you speak with a banker I recommend. You don’t have to use that person for your mortgage but at least you will have truthful and accurate information. Every banker below is a true professional doing outstanding work for my clients. You’re free to chose who you wish but why not begin here?
Recommended Loan Officers
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