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Financing in New Jersey : Real Estate Advice

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Activity 645
Wed Jul 19, 2017
Wayne Coffman answered:
In the state of Indiana you can separately own the home from your spouse meaning one can own it without having the others bad credit keep them from getting a better rate. Unlike California where they take both credit scores and use the lowest one to get the loan approved for ... more
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Sat Jul 15, 2017
Thomas Ciampi asked:
Our house is worth approx $450k. We still owe $230k on the mortgage after 14 years. We would like to do a major renovation using a FNMA Homestyle loan. We're thinking the construction cost…
0 votes 0 Answers Share Flag
Mon Jun 26, 2017
Bxl2005 asked:
I am looking at a multi family house in NJ. It has 2 residential units and 1 small business unit ( it is <=25%). I plan to live there. Can somebody suggest a mortgage company? Also, in…
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Tue Apr 11, 2017
JCMck answered:
IT IS OUR UNDERSTANDING THAT THIS IS AN ISSUE WITH MANY CONDOS WHEN THE MANAGEMENT TRANSFERS TO THE HOA. BASICALLY THE WARRANTY EXPIRES. IN HOBOKEN, AT THE TOLL/MAXWELL BUILDINGS IN HOBOKEN THEY SEEM TO BE HAVING THIS ISSUE. FROM WHAT WE HAVE HEARD MANY LENDERS WILL NOT DO MORTGAGES BECAUSE OF FEAR OF THE LITIGATION. SOME WILL BUT THEY ARE MUCH MORE EXPENSIVE AND HAVE TOUGHER BORROWER STANDARDS AND THE LOANS TAKE MUCH MORE TIME. ITHIS HAS THE EFFCT OF REDUCING DEMAND IN THE BUILDING AND IT BEGS THE QUESTION WHY THE HOA FILED LAWSUITS AND LEFT THE OWNERS IN THIS MESS- IT AFFECTS THE RESALE ABILITY. SOME THINK IT MIGHT BE BECAUSE THERE IS SOME TYPE OF MAJOR PROBLEM, BUT THE HOA WILL NOT GIVE INFO ON IT. IT COULD GET WORSE FOR US AS A NEW BUILDING IS OPENING IN THE NEIGHBORHOOD SHORTLY AND IT WILL DIRECTLY COMPETE. WHEN HOAS DO THIS IT MAKES ONE THINK ABOUT THEIR OVERALL JUDGEMENT AND WHETHER THE FINANCES MAKE SENSE- WHY WOULD THEY FILE A LAWSUIT AND INCUR THE EXPENSE IF THEY HAD PROPER RESERVES ON THE BOOKS? ... more
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Thu Mar 30, 2017
Moniqueshaq asked:
Long term care payment from my previous employer . I am still interested in getting home . Does anyone know of any programs that will offer a mortgage to the disabled . Thanks for the…
0 votes 0 Answers Share Flag
Sun Mar 5, 2017
Ranjankc326 answered:
QUICK ANSWER
While giving out personal financial information online always carries risks, applying for a personal loan online increases the risk of exposing personal information because many websites are not actually lenders but are lead generators, reports the Consumer Financial Protection Bureau. Lead generators identify potential clients for lenders, gather information and send it to a network of lenders, acting as a third party in the process.

In addition to the risk of personal financial information being exposed to an unknowable amount of lenders, applying for a personal loan online through a lead generator also rarely generates the lowest interest rates and causes confusion between the consumer and the lender, cautions the CFPB. Keys to differentiating between actual lenders and lead generators online are often in the fine print. Phrases such as "matching you with lenders" are red flags.
Lead generators are also known to resell personal data, exposing personal information outside of the network of potential lenders. For example, a reporter for NPR submitted a false application through a lead generator to discover how far the information spread and how quickly. Although she submitted a fake name, address, social security number and bank account information, she was approved for a loan and received calls from companies for months afterward with offers of funds up to 10 times of what she originally requested, reported Pam Fessler for NPR.

Apply for mortgage online or check required documents to apply online : https://www.hypotec.loans/apply-mortgage

Contact us: https://www.hypotec.loans/contact-us
... more
0 votes 25 answers Share Flag
Thu Mar 2, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

We do have a mortgage program that only requires you to be one day out of foreclosure.

You need to put 20-30% down.

If you would like more info or have any questions you are welcome to get in touch with me. ... more
1 vote 1 answer Share Flag
Fri Feb 17, 2017
Riadnancy33 asked:
Wed Feb 15, 2017
Jonathan.brozek answered:
they absolutely do. Construction loans for doctors too. Call me at 916-601-8782 or jonathan.brozek@usbank.com
0 votes 5 answers Share Flag
Thu Feb 9, 2017
asgj1978 answered:
You are asking if you can borrow more than the collateral would be worth? Umm.... NO!! That would be like asking for $50,000 and giving title to a $25,000 car...what makes you think the banks want you to start out owing the much more than the property they are financing for you?! ... more
0 votes 7 answers Share Flag
Thu Jan 26, 2017
Vikinggal asked:
steeply. Excellent credit score, worth, but not enough cash to purchase a home w/o selling existing home first. How can I get a mortgage if home equity line of credit $ amount is low? Would…
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Fri Jan 20, 2017
FLS asked:
My boyfriend's mother and her sister equally own a house that we are trying to purchase from them for around $180-200K. The sister will likely want her half of the money up front, while…
0 votes 0 Answers Share Flag
Thu Jan 5, 2017
John Burke answered:
Hi Davis,

Unfortunately the only way you can be removed from a mortgage is t refinance the loan out of your name. Doesn't matter what state you're in.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
... more
0 votes 1 answer Share Flag
Fri Dec 9, 2016
Cherry Tree asked:
In other states I lived,I had to provide my paystubs, tax returns, W2's etc plus they looked at my credit report BEFORE handing me a pre-approval.
In Nj it seems,mortgage brokers ask for…
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Thu Nov 10, 2016
Goldenluck asked:
We've moved to US on December 2015 and my husband's annual income is about $45000 and his score is 661. Can we get approve on mortgage?
0 votes 0 Answers Share Flag
Thu Sep 29, 2016
Trashmail2222 answered:
It actually depends on how fast/busy the appraiser is. I work for an AMC in California. We get the report back to the bank within three days. However that is not always typical. I would assume the bank would ask for a family quick turn around. So I would think a week to 10 days would be sufficient time to complete a typical property appraisal. If your home is unique, it might take longer as well as cost more. ... more
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