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Home Buying in Paterson : Real Estate Advice

  • All106
  • Local Info13
  • Home Buying23
  • Home Selling2
  • Market Conditions7

Activity 40
Sat Dec 19, 2015
Dan Tabit answered:
580 is the lowest some lenders will consider, but not all. Paying down your debts while leaving your credit cards open will improve your scores.
Lenders use the middle score of the lowest scoring borrower from the credit reports they obtain on their own. You may find that the scores you have and the ones obtained by a lender are the same.
Please don't jump as soon as you hit 580. The odds of getting approved at the bare minimum are low.
Resolve your issues, pay your bills on time, have low to zero balances, use credit but pay it off monthly for items you need to buy anyway.
Some lenders assist with credit repair as part of their service. There may or may not be a fee for this. Find a lender who does and you'll make more progress faster.
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Sat Feb 7, 2015
Jeanne Feenick answered:
....with the assistance of the best real estate agent and mortgage rep you can find. You will be well-served!
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Mon Jan 12, 2015
Greg Ferris answered:
You should contact your Wells Fargo Loan Officer. The type of property (Single Family, Multi Unit, Condo). Also, the loan amount will come into play. If you would like a quote for a comparision. Please contact me at 609-504-7010. I am a licensed NJ & PA Banker. I have 16 years lendign expience. I just settled a Denville purchase in December ad you will find we do a good job.
NMLS 189104
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Tue Apr 15, 2014
Carey Lambert answered:
Hi Sonya!
Short sale properties can be very tricky so it is important to have the right people helping you along the way. Are you working with an agent yet? If you need help we are more than happy to refer you to one of the TOP agents in your area to make your transaction go as smoothly as possible. Give us a call at (504) 382-4663 if we can help.
Have a great week!
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Sat Jan 25, 2014
Nader Rezai answered:
Be very careful, there are people fishing for information online. I have had my rental listings advertised by others, and directing potential tenants to send deposit monies to them. Only work with reputable Realtors. ... more
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Sat Sep 28, 2013
Jessica Bateman answered:
Yes FHA loans require a 580 score, Conventional require a 620.. I recommend The Lenders Network, they can refer you to an agent to help you find a home and a Lender or two that can get you pre approved.

Good Luck!
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Thu Jul 18, 2013
Peter J Rogers answered:
easy enough- any property that is listed on the mls has a link to a Google earth image of the property and that will show if it is. And most experienced agents who work the area will know enough to focus in on the probables ... more
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Sat Jun 22, 2013
Bill Eckler answered:
Are you working with a real estate professional that is representing your interests? They should be advocating for you on this issue. As previously stated, unless there are unusual conditions attached to your agreement, you shouldn't have any problem recovering your escrow money.

Speak with your agent about this.....

Good luck,

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Wed Jun 12, 2013
Paul Marzolla answered:
Your credit score would absoultely allow for FHA financing, only a 3.5% down payment is needed which is great. I've worked with many homebuyers who've had blemishes on the credit report, including bankruptcies. The important question would be "When was your bankruptcy discharged?"

Being that it was filed 5 years ago I'm sure you're in the clear, but I think you owe it to yourself to be certain. Please give me a call at your earliest convenience so we can discuss all aspects of your upcoming home purchase and weigh out several options to ensure an affordable payment. I'm located locally in Hackensack and would be more than happy to help you and your family out.

Kindest regards,

Paul F. Marzolla
Sr. Mortgage Consultant
(201) 957-6768
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Thu May 23, 2013
Frank answered:
Delia I work at Clifton Savings Bank, we do not have any Credit Score Requirement

As long as you have a job & good income & can put 5% down on a 1 family house

Call me Francisco 1-917-547-9298 ... more
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Mon Apr 8, 2013
Jane Jennings answered:
Hi Robin,
The areas that Brian and Armin are definately a place to start. There are some other great areas in Morris County that you can look at too. East Hanover is in Morris County. Some additional areas are, Rockaway, Randolph, Roxbury, Lake Hopatcong. I grew up in the Lake Hopatcong area and have lived in Morris County all my life and I've worked in East Hanover. If you have any questions please don't hesitate to call or email. Good luck. You'll love living in New Jersey! ... more
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Mon Mar 25, 2013
Diane Glander answered:
Where you can go will depend on how much you want to spend.
Pt. Pleasant borough has a lower tax rate as do many towns in South Monmouth County. It will all depend on how much you can afford. Manasquan, Spring Lake Heights, Bradley Beach and Belmar are all pretty low.
Message me with your price range and I can email you out some suggestions. Or, you can go search the entire Monmouth and Ocean County MLS from my website below. Or, you can upload my mobile ap by texting dianeg to 87778 to search from your phone.
Good luck!
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Wed Feb 13, 2013
Andrew Tisellano answered:

30 Mountain ave is available please contact me for more information
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Sat Jan 26, 2013
Ryia Iosif answered:
The best thing is to go to the Municipal building and check with the town.
Let me know if I can assist you in anyway Thank you
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Sun Dec 9, 2012
Andrew Tisellano answered:
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Wed Jul 25, 2012
Andrew Tisellano answered:
Hi Neighbor

I grew up in Bensonhurst, Lafayette HS
I moved out to Northern Jersey
would be happy to help you find a home in northern Jersey.
I have a couple 4 bedroom 2 bath homes on the market in Clifton and Passaic 30 minute commute to city. ... more
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Tue Apr 10, 2012
Chris Leopizzi answered:
07503 and 07502 are too of the nicer zip codes but under 200k may be a litle tuff to find anything.. You can also look in 07501 which may offer more.. The key is working with a good agent who knows the area.. ... more
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Fri Apr 6, 2012
Elizabeth Garcia answered:
Normally the seller would cover the cost unless your buying a bank owned REO property. Your attorney should negotiate in your favor after you do your home inspection.
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Wed Mar 14, 2012
Robert Spinosa answered:
I'm going to give you the overview from an FHA loan approval perspective here, just to keep it as concise as possible:

*If you're self-employed, assume you will need two years of history in every case.
*If you're a "wager earner" or receive a W-2, then a two year history is also required, but if less than 2 years is available, then:
*Provide school transcripts or military discharge paperwork. Work should be in same field as study.
*If gaps exist between employment, but 2 year history can still be obtained, gaps must be documented and explained.
*If gaps are extended (generally greater than 6 months) than new position must be in place for at least 6 months before employment can be considered stable.

Hope this helps, but let me know if not.

Rob Spinosa
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Sat Oct 1, 2011
Anthony Cincotti answered:
The link below has a complete list of property tax rates by county for FY2010.

I moved from NJ due to the high property taxes. My wife and I chose Florida because we were able to get a much nicer home for significantly less both in cost of the home and in property taxes. A similar home to what we purchased in Florida would have cost us roughly 4 times what are taxes are here.

I hope the link is of use to you in making your decision and Happy house hunting!

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