First-Time Home Buyers

If you are a first-time home buyer, use the guide below along with the helpful hints and tips to learn how to avoid common mistakes when buying your first home in New Jersey.

  • Pre-Qualification: Meet with a mortgage broker and find out how much you can afford to pay for a home. Let us introduce you

  • Pre-Approval: While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You'll also avoid being disappointed when going after homes that are out of your price range. With a pre-approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. In order to submit an offer on any property, a pre-approval or proof of funds is essential in having your offer taken seriously. Let us introduce you

  • List of Needs & Wants: The first should include items you must have (i.e., the number of bedrooms you need for the size of your family, single family vs. townhome, if accessibility is a factor, etc.). The second list is your wishes - things you would like to have (pool, den, etc.) but that are not absolutely necessarily a deal-breaker. Realistically for first-time buyers, you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.

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