Home Buying in 08108>Question Details

Jeces, Home Buyer in 19147

Don't know where to start with mortage?!?

Asked by Jeces, 19147 Thu Jul 12, 2012

My fiance and I decided to leave Philly and move to New Jersey. We love Collingswood and Haddon Township. We are in the process of repairing our credit and honestly do not have much for a down payment at the moment. Together we bring in around $95k annually. We are very motivated and ready to do what we need to do but I'm not sure what is available for financing or what our options are. We have a real estate agent already.

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10
Good Afternoon Jeces.

I would ask your agent if they have any lending recommendations that they could provide you. Most agents have relationships with particular lenders or brokers, but do not hesitiate to shop around. The lending industry has changed greatly over the past 3 years, and different lenders will have different terms, rates, etc.

Best of luck,
Shawn Burke
0 votes Thank Flag Link Wed Sep 12, 2012
Dear Jeces,

Collingswood attracts a lot of Philly folks! The PATCO speedline and the close proximity make for an easy commute in and out of the city, so you are making a good choice in looking in the Collingswood and Haddon Twp area. We moved over here from Pennsylvania for the same reason. And, cleaning up your credit is a great start to future home ownership. You make good income and might be surprised by your available options in mortgage financing. It's best to call around to banks, mortgage companies, and even mortgage brokers to see what "menu" items they might be able to fit you into. One option might be the NJ Smart Start Program which has more flexible underwriting and provides great financing options. Collingswood does qualify geographically - but there are also income requirements in regards to the size of the "family" living in the home. Ask about it. There are also some great FHA programs with as low as 3.5% down and even a program to do some renovation work that might be needed. I know Wells Fargo has some pretty lenient parameters in regards to credit scores. Oak Mortgage or Fulton Bank are a few other great options.

I live and work in Collingswood - so glad to have you as a neighbor!

Joy Messner
Lenny, Vermaat, & Leonard Inc., Realtors
856-428-9677 (248)
0 votes Thank Flag Link Sat Jul 14, 2012
My suggestion is to call First Prestige Mortgage Services, Inc and I am sure you will receive excellent sevice. 888-FHA-ROAD or 973-744-8300
0 votes Thank Flag Link Fri Jul 13, 2012
I'm working with an mortgage lender named Lou with Sun Bank in Collingswood. I like him a lot. And my Collingswood home is for sale: 19 East Coulter Avenue. It's a beautiful home and I know the Lou, Sun bank and I would be willing to work with you and get creative if need be.
0 votes Thank Flag Link Thu Jul 12, 2012
Most mortgage reps will provide the help you need to get you started. If you do not know any reps I have several that can assist you. The problems that are associated with your credit will dictate how to circumvent and correct the issues. Many times you can get an approval with conditions and start the process while fixing your credit.

If I can help contact me

Larry Sarlo
Remax Preferred
609-868-1171
Lsarlo@comcast.net

Search the best deals in nj. http://Www.buynjshortsales.com
0 votes Thank Flag Link Thu Jul 12, 2012
Your real estate agent should be able to direct you to a good mortgage consultant who can work with you on credit issues. I'd volunteer some terrific consultant's names but do not want to interfere with your existing relationship! Kathi Boggs-Shaner, 2012 Five Star Real Estate Agent, Prudential Fox & Roach, Haddonfield, NJ 856-428-2600
0 votes Thank Flag Link Thu Jul 12, 2012
hi kathi, my name is alex n im in need of help with credit issues can u email me any info u have please arod6292@hotmail.com thanks
Flag Sun Mar 17, 2013
Hi Jeces
It is important for you to work with a lender who gives you great service. Some large institutions can make you feel like another file in the box. A mortgage broker, on the other hand, will be more likely to give you personal care. He or she can also help guide you through the credit repair process and tell you when you are mortgagable. They often also come to closing to explain the documents. Most realtors know some good lenders - just ask. You can get a mortgage with 3.5% down, and if you need help, the seller can help you pay for closing costs. An experienced Realtor can explain all of your options. Haddon Twp and Collingswood are great communities - I work there often.
0 votes Thank Flag Link Thu Jul 12, 2012
I am a lender who lives right in that area in Haddonfield. I can help you start the process of securing mortgage financing. Feel free to reach out to me. Here is an old video, but good video on the neccesary documentation for a mortgage application.

http://www.youtube.com/watch?v=0ee9y6O3haA

Joseph S. Cordova NMLS# 146855
Evesham Mortgage, LLC
22 South Maple Avenue
Marlton, NJ 08053
office: (856) 985-9944 ext. 103
direct fax: (206) 333-0946
cell: (856) 304-2381
Web Reference: http://www.joecordova.com
0 votes Thank Flag Link Thu Jul 12, 2012
Hello Jeces,
Thanks for your question.
Ask your real estate agent to put you in touch with a loan officer so you can get an idea of what kind of mortgage you can be pre-approved for. If you know one he/she call them directly. There are several programs available if you and your fiance are first time home buyers. The loan officer can select the best one for you.
Good luck in your home buying time!
Ines De La Cruz
RE/MAX Connection
http://www.inesdelacruz.com
0 votes Thank Flag Link Thu Jul 12, 2012
You need to start at the first step and that is talking with a lender to see what you can qualify for and what loans are available to you. After that the agent can show you what is available in your price range.
0 votes Thank Flag Link Thu Jul 12, 2012
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