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,
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!
Lenny, Vermaat, & Leonard Inc., Realtors
If I can help contact me
Search the best deals in nj. http://Www.buynjshortsales.com
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.
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
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