Bank vs Broker- How to Choose a New Jersey Mortgage CompanyWritten by John DiDomenico- "New Jersey Mortgage Pro"
Choosing a New Jersey Mortgage Company can be quite confusing and stressful. Understanding difference between your local bank versus a mortgage broker could mean savings of thousands of dollars. Your local bank has certain guidelines and criteria it must follow. These restrictions often limit loan products which are available to you. It’s essential to ask your bank which type of credit borrowers they specialize in, also known as Prime and Sub-Prime Borrows. Knowing this can give you a better understanding of lending institution your dealing with. Mortgage Brokers on other hand are often smaller companies that
| | It's not to Late To Get a Great Mortgage RateWritten by John DiDomenico-Home Mortgage Pro
Despite recent increases mortgage rates are still very competitive. Weather you’re considering to refinance or to purchase a home it is still possible to get loans still in upper 5% range. Rates like this are still making it possible for people haven’t refinanced yet to take advantage of these rates while they’re still low. Refinancing is a practical solution to consolidate debt or paying off higher interest rate loans, financing home improvements, or taking cash out to take advantage of low rates. Many people are enjoying benefits of taking money out from their houses and still paying same monthly payment without any increase. Jay Moola, (a private consumer who owns a two family house) states, “When you can take out $30,000 from your mortgage, and apply
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