Stephanie A. RizzutoLoan Officer NMLS#: 145265
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Are you a Generation Zer? Have you thought about purchasing a home, but thought it wasn’t possible? A recent 2019 Homebuyer Insights Report showed that nearly 60% of 18-to-23-year-olds would like to buy a home within the next five years. It also reported that another 52% of Gen Zers have already started to save up to purchase a home. So, if you’ve thought about it, or maybe deemed that you couldn’t do it, think again, as we provide you with saving tips to buy that home sooner than you think. Tip #1: Find The Right Savings Account For You If you’re looking into a savings account, it is super important that you’re choosing the right one for what you’re trying to achieve. If you are in the beginning stages of saving, it might be best to get an account that doesn’t require a minimum balance, that way you can start to earn interest immediately, regardless of how much you have saved in the bank. Try to open an account with a high interest rate, and then you can earn more on the funds you save. Tip #2: Have Portions Of Your Paychecks Automated Into Your Savings If you’re receiving a paycheck on a weekly or bi-weekly basis, it’s a great idea to have a portion of that check go straight to your savings account. If you’re not comfortable doing that for every check you receive, you could also see if it’s possible to have auto-transfers from checking-to-savings at least once or twice a month. If you’re not sure how to go about this, there are so many apps out there today that can help you with auto savings. Using an app can also help you to see where you’re spending your money, and ...
Home buyers in New Jersey tend to have a lot of questions about the mortgage application, processing and closing process. In particular, many buyers want to know about the mortgage documents that are needed in New Jersey. The list of required documents can vary based on the type of home loan you are using and other factors. With that being said, there are certain mortgage documents that are required for most home-buying scenarios. They are explained below. Mortgage Application and Closing Documents in New Jersey When you apply for a mortgage loan in New Jersey, you will be asked for a variety of documents relating to your finances. Here are some of the “usual items” that are required during the mortgage application, underwriting, and closing process in New Jersey. Bank statements for the last few months, for accounts the borrower holds. If more than one person will be named on the mortgage loan, they will each have to provide banking documents. Tax returns for the last year or two. These documents can be sent straight to the mortgage company from the IRS. The home buyer typically completes IRS form 4506-T (Request for Transcript of Tax Return), which enables this to happen. Recent pay stubs showing year-to-date earnings. Name and contact information for the borrower’s employer, and possibly previous employers as well. Most recent statements for any outstanding loans or lines of credit. When applicable: marriage licenses, child support documentation, divorce settlements, bankruptcies or judgments. In some cases, New Jersey mortgage applicants are asked for explanations of recent credit ...
Since 1991, NJ Lenders Corp. has been originating first and second mortgage loans in several states and has offered competitive mortgage rates and fees, while providing a level of service that exceeds client’s expectations. The company and their loan officers have been nationally recognized throughout the years by several different publications, and they have worked hard to achieve and maintain a prestigious reputation as one of the best mortgage companies in the game. What makes them one of the best New Jersey Mortgage Lenders you might ask? Let’s take a look… Great Reviews Make Us The Best Mortgage Company NJ Lenders doesn’t have to toot their own horn when their customers can do it for them! On several different platforms, their past clients have given them an overwhelming amount of positive reviews. The company has a 5-star rating on the popular website, Zillow, with over 2,300 reviews, and they also have a 5-star rating on Google with over 300 reviews. However, the website SocialSurvey is where the company stands out the most with almost 5,500 reviews and a 4.92-star rating. Not only has the company been recognized by SocialSurvey , but with over 30,000 loan officers in the running, six NJ Lenders loan officers made the SocialSurvey 2018 Top Performers List for Customer Satisfaction. It’s no wonder that 70% of the company’s loans are derived from previous customer referrals. Awards Makes Us The Best Mortgage Company Not only have our loan officers made SocialSurvey’s 2018 Top Performers List, but they’ve also been recognized by some of the nation’s top publications. One of the ...
In today’s day-and-age, it seems as though people want information as quickly as possible, and with technology being as advanced as it is, borrowers have turned to getting mortgages online. However, this isn’t always the best-case scenario. Although it is indeed quick, it doesn’t mean that it’s the best fit for the borrower, and that they’re getting the best deal that they possibly can. Here are four reasons why getting a mortgage online might not be right for you… Shop Around! See What Your Options Are… Just because getting an online mortgage is quick and easy, doesn’t mean it’s the best option for you. The purchase of a home is one of the biggest financial decisions of your life, and it seems foolish not to do your full research and shop around for the best rates and fees. When you insert your information into an online site, you truly don’t know if you’re getting the right program, rate, and down payment for your specific needs. If you shop around and talk to different people, you can at least gain knowledge about different programs and what works best for your scenario. In the end, maybe you do go back online, but at least you’ll have peace of mind knowing you explored your options. If You’re a First-Time Home Buyer If you’ve purchased a home before, you have a better understanding of what’s out there and what to expect within the mortgage process, but if you’re a first-time home buyer, it’s in your best interest to talk to a mortgage expert. If you take your time and speak with someone, you can learn about rates, points, ...
Home buyers in New Jersey tend to have a lot of questions when it comes to closing costs and who pays them. One common question is: Can the seller pay some or all of the buyer’s closing costs in New Jersey? Should the buyer ask for this kind of contribution? Is it rare or common? The short answer is that it’s all negotiable. Trends and customs can vary depending on the current state of the real estate market. In some cases, the seller might agree to pay some of the buyer’s closing costs. This is called a “concession.” But there are a lot of important factors to consider. So let’s start with the basics. What Are Closing Costs? The collective term “closing costs” refers to the various fees that must be paid to close a real estate transaction. In New Jersey, as in most states, it’s common for both the buyer and seller to have their own closing costs during a home sale. It’s typical for sellers to pay for the real estate agent commissions, transfer fees relating to the sale of the home, and (in some cases) their own attorney fees. There might be other seller-side costs as well, in addition to these. The buyer usually pays for most of the fees relating to the mortgage loan (if a home loan is being used), along with the property appraisal, survey and title-related fees. Can the Buyer Ask the Seller to Pay? Getting back to the question at hand: Can the seller pay the buyer’s closing costs, in a standard real estate transaction in New Jersey? Yes, the seller can contribute money toward the buyer’s closing costs. This is allowed under most mortgage loan ...