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Annette T. Rubin
Broker/Owner
Exit On The Hudson Realty
867 Broadway
Bayonne, NJ 07002-3031
201-437-0411
info@exitonthehudson.com
It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home.
Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received your credit report, and verified your employment, assets, etc. When you are pre-approved, you know exactly what the maximum loan amount will be.
A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property.
In addition to being pre-approved, it’s important to be pre-approved with a legitimate lender. Legitimate lenders include: banks, mortgage bankers, credit unions, savings and loan associations, mortgage brokers, and online lenders.
Some lenders to avoid: those who lose a form or misplace a file, those who gather information from you in an unorganized manner, those who are not informed about interest rates, points or costs, and those who cannot provide you with the right information.
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Information deemed reliable but is not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of Garden State Multiple Listing Service L.L.C. Real estate listings held by brokerage firms other than Exit On The Hudson are marked as IDX listings. Information provided is for consumer's personal, non-commericial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Exit On The Hudson does not display the entire GSMLS IDX database on this website. The listings of some real estate brokerage firms have been excluded. This site will be monitored for 'scraping' and any use of search facilities of data on the site other than by a consumer looking to purchase real estate, is prohibited. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. NOTICE : The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11 :5.6.1(n) for the advertisement of listings exclusively listed for sale by another broker. Any such consent must be obtained in writing from the listing broker.
Information last updated on 2024-03-28 06:30:15.
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The data relating to real estate for sale or rent on this web site comes in part from the IDX program of the HCMLS. Real estate listings held by brokerage firms other than Exit On The Hudson are marked with the HCIDX mark and the information about them includes the name of the listing broker.
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Information last updated on 2024-03-28 06:30:15.
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The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided.
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Information last updated on 2024-03-28 06:30:16.