I am a first time home buyer. Can you suggest where I should look to get good information on my options?

Asked by Ccgemi617, Brick, NJ Mon Aug 1, 2011

Are there any good sites on the web to help? Do I have any "breaks" available to me mortgage wise?

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15
John Sacktig, Agent, New Jersey, NJ
Tue Aug 2, 2011
You can start with:

Alfonso Esposito
Mortgage Loan Officer
Bank Of America
Phone: 908-531-8134

Alfonso.esposito@bankofamerica.com

Alfonso is a good person with great commincation skills and no nonsense approach. Al will tell you exactly where you stand and what options are avaialble to you.

John Sacktig
Broker / Manager
Orange Key Realty
732-213-1409

JSacktig@orangekeyrealty.com
2 votes
John Sacktig, Agent, New Jersey, NJ
Mon Aug 1, 2011
Hi -

What you need to do is continue your due diligence by talking to people, finding a Realtor asking questions, discuss what you are looking for, what price range and such. Your Realtor should have few leads on Mortgage people, Yes I know what people say, But we don’t make any money off of a Mortgage Rep referral, we just work with people that we trust and know can help buyers get their mortgage. Your mortgage rep will look at your overall picture and tell you what you can really afford.

While that is happening, I (your Realtor) would be sending you homes to see... schedule a few and take a look around and see what is on the market..

To go further.. call or email as I have a good first time homebuyer information sheet that explains the process and steps in buying a home in New Jersey.

I am a local expert and if it is on the market or recently sold.. .. If I did not sell it.. I know about it!

John Sacktig
Broker / Manager
Orange Key Realty
Direct: 732-213-1409
JSacktig@orangekeyrealty.com
2 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Mon Aug 1, 2011
Hi there -you are off to a good start by tapping th expertise of the pros here on Trulia. Many brokers host information sessions for First Time Buyers and this can be a helpful place to start. In the end you will be well served by working with a great local agent that has experience with - and enjoys working with first time buyers. If you were up my way, I would most definitely apply for the job! Your agent will be able to recommend great resources including mortgage pro.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference:  http://www.feenick.com
1 vote
Sally Grenier, Agent, Boulder, CO
Mon Aug 1, 2011
As other agents have said, the first step is to find a lender or mortgage broker to find out what you qualify for, and what mortgage option is right for you. Then you'll want to find a Realtor to work for you as a Buyer's Agent. I'd be happy to refer you to someone in your area.

DO NOT rely on sites like Trulia, Zillow or Realtor.com for property info. They are notorious for having outdated information. Your Realtor will be able to set up a search in your local MLS and email you listings, or post them on a website for you to browse. Your Realtor will be able to educate you and guide you throughout the entire process. Good luck!
Web Reference:  http://www.sallygrenier.com
1 vote
Elaine Kong…, Agent, Freehold Township, NJ
Tue Feb 17, 2015
Call Vincent Demetrio of S.I. Mortgage Group, Inc. @ 917-755-4779. He can help you with any types of mortgage. He is licensed in NY and NJ.
0 votes
Tina Hoffman…, Agent, Manalapan, NJ
Wed Aug 8, 2012
Hi,
I would recommend your speaking with a knowlegeable mortgage representative and would be happy to provide you with recommendations. I know of no internet subsitute for one on one counseling and that counseling is done at no obligation to you. I think you can put as little as 3.5% down on an FHA mortgage, bu t there is another government agency that allows for 100% financing for non-veterans (veterans have the option of a va loan). Terms and conditons apply and of course there are stringent credit and earnings requirements. Please feel free to call or email me.
0 votes
Kathleen Behr, Agent, Middletown, NJ
Wed Aug 8, 2012
There are many first time home buyer mortgage options...such as 3% down and credits toward closing costs. Call us for more info. 917-747-1830
0 votes
Linda Walters, Agent, Wayne, PA
Wed Aug 3, 2011
Your first stop needs to be to a good honest mortgage person. Ask around, try your HR Department, credit union, local bank and also someone who is a mortgage broker (they shop around for you). Then go here for a list of good questions to ask. http://www.findahomeinpa.com/choosing-a-lender.aspx
There may be local incentives for you but the rates are so low now, you should not focus too much on that.
Web Reference:  http://www.FindAHomeinPA.com
0 votes
Diane Glander, Agent, Spring Lake, NJ
Wed Aug 3, 2011
First you need to know how much house you can afford. Then, find a great realtor (here on Trulia there are plenty.) A good agent can walk you through all the steps.
Search for a home with a great location above all other things and consider the fact that you might have to one day resell the house you buy. Also keep in mind that kitchens and bathrooms are the most expensive things to renovate and 2 bedroom houses are hard to sell.
Look for a town with a good school system and one that is easily walkable. These attributes always will be desired. Stay away from commercial areas, if you can afford to.
Good luck!
Web Reference:  http://www.dianeglander.com
0 votes
Francesca Pa…, Agent, Manasquan, NJ
Tue Aug 2, 2011
Cc,

There is a plethora of information online; just google First time home buyer. You can also try this link on zillow http://www.trulia.com/voices/guides/ which explains many of the home buyer processes. Many companies will run 1st time homebuyer seminars . . . but they are with limited information and mainly designed to attract u to using their company. My final view, use as many sources as possible.

When u say options are you referring to housing option or mortgage options?

Honestly, we all the banking rules tightening, the first thing I would do is to contact a mortgage advsor (can supply you with a few references) and the proceed from there. Try not to rely on these online mortgage sites as many times, I've seen clients believe they could afford one price, find the home of their dreams, then learn from a real time mortgage person that they do not enough "buying power" to purchase the home.

Sincerely,
Francesca Patrizio, Broker Sales Associate
Gloria Nilson REALTORS, Real Living
732.606.2931
Francesca@PattrizioRE.com
Web Reference:  http://www.PatrizioRE.com
0 votes
Gerard Balsa…, Agent, Holmdel, NJ
Mon Aug 1, 2011
Hi,

Here are some useful links for you to explore concerning first time homebuyers(copy and paste into your browser):

http://www.state.nj.us/dca/hmfa/consu/buyers/ownprg/firsttime.html

http://www.hud.gov/buying/comq.cfm

The HUD Q&A offers basic info and general guidance. I am a local real estate agent and am ready to help you. I also have an excellent mortgage contact for you. Everyone in this thread has given you good advice.

First Time homebuying is a very rewarding experience. Enjoy and good luck.

Regards,
Gerard
Web Reference:  http://www.gerardbalsamo.com
0 votes
Ronald Shaff…, Agent, Toms River, NJ
Mon Aug 1, 2011
There are many grants and programs available in Ocean County for first time buyers. I have a couple of local mortgage reps in the area that can get you started and see what is available to you. Please let me know if you would like their contact info and I will forward it to you. If you already know teh price range you are looking in, let em know and I will be happy to forward you some detailed listing reports. Best of luck to you, Ron Shaffery RE/MAX Toms River
0 votes
Ken Ruddell, Agent, Clarkesville, GA
Mon Aug 1, 2011
Definitley talk with a local agent whom you feel confortable with - if you are not comfortable find someone else. Find out what programs are available to you. And one very important thing not to forget and that is that interest rates are negotiable!.So shop around.

I pulled the website for NJ for you. It does have info for NEW HOMEBUYERS. Check it out. But your best asset is a trusted Realtor & mortgage broker. Best of luck to you. Ken (formally from NY)
0 votes
Tina Hoffman…, Agent, Manalapan, NJ
Mon Aug 1, 2011
Hi,
The first thing you should do is to contact a mortgage representative to discuss your options. That person will run your credit and ask questions concerning your income, any sources for downpayment, whether perhaps you qualify as a veteran for no downpayment etc. I don't think in New Jersey at any rate (where I am from) there is any first time money available at this time, but a knowlegeable mortgage person would know better. If you would like recommendations, I would be happy to provide you with a few names, but truthfully, at this stage, if you speak to someone knowlegeable, it wouldn't be necessary to contact many people. Later on, that might be a good idea to compare prices. Once you know you are qualified for a particular price point, then you would then need to decide where you want to live and what is available to you to purchase. At that point, you should contact a realtor who can send you samples of your options in terms of single family, condos, and different towns. There is always compromises to be made, no matter what price point you are at.
0 votes
Laura Gianno…, Agent, Manahawkin, NJ
Mon Aug 1, 2011
There are many loan options available. USDA no money down loans, FHA loans, FHA rehab loans. Talk a few mortgage reps, decide which one you're most confortable with (and knows the available loan products) then proceed.

Laura Giannotta
0 votes
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