To Get The Best Mortgage You'll Have To Plan Ahead
The Days of The Easy Mortgage Are Over
Not too long ago, if you could fog a mirror you could get a mortgage at a very attractive interest rate. It didn't matter what your credit report looked like or if you could prove your income, you could still get a loan. That's why the mortgage market is in turmoil now.
Financing is still available, but unless you are squeaky clean, it will take some work. To get the best mortgage you will have to document your income, clean up any credit issues on your report, and seek the assistance of a qualified mortgage professional.
Interest rates are near historic lows despite the current credit tightening. Conforming loan amounts have been increased in some areas which eliminates the need for jumbo loans. FHA financing which allows down payments of as low as 3% and is more tolerant of past credit problems has become popular again.
We're in a buyer's market. If you are considering buying a home this is actually a great time to buy because there is a large selection of homes and sellers are anxious to talk to qualified buyers. In most cases you won't be competing with other buyers for the same house as was common a few years ago.
Get Pre-Approved for your mortgage. The secret to a successful purchase is getting Pre-Approved for your mortgage before you make an offer on a home. Because approvals are more difficult now, home sellers are reluctant to negotiate seriously with a buyer who may not be able to complete the purchase. By having your financing in place before you make your offer, you will be in a much stronger bargaining position.
Give Us A Call. Don't put it off any longer, our number is 973-694-9220. It will only take a few minutes to have your questions answered and find out how much you qualify for or what you have to do to improve your situation. If you prefer, you can fill out the online Pre-Qualification form and we'll contact you and help you select the best mortgage program to meet your long term financing goals.
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Licensed mortgage broker by the NJ Department of Banking & Insurance Licensed by the PA Department of Banking
American Eagle Mortgage 1341 Hamburg Turnpike Suite 2-4A Wayne, NJ 07470
