Separating Bradley Beach NJ Homeownership Fact from Fiction

Many would-be homebuyers are stuck in the feeling that they will never be able to qualify for a mortgage.  However, applying for a mortgage today is very different than it was 10 or 15 years ago.  With many creative financing offers available today, more and more people are able to become homeowners. 

FreddieMac.com has put together a list of “myths” about becoming a homeowner, and it shows just how realistic homeownership can be for most people.  Here are just a few of the Many Myths About Homeownership:

Myth: You need great credit to become a homeowner.
Fact: You may still be able to buy a home with less-than-perfect credit. And remember, you can improve your credit over time.

Myth: You need to put 20% down to buy a home.
Fact: There are many types of mortgage products and programs that allow low and no down payments. But remember to factor in other costs such as closing costs, property taxes, moving, etc.

Myth: Lenders share your personal financial information with other companies.
Fact: By law, banks and other financial institutions are restricted in their uses and disclosures of information about you. In some situations, you may choose to restrict the disclosure of your information if you don’t want it to be shared.

Myth: You can’t get a mortgage if you’ve changed jobs several times in the last few years.
Fact: Not true. You can change jobs several times and still get a loan to buy a home. Lenders understand that people change jobs. The important thing is to show that you’ve had a stable income.

If you are ready to get on the path to homeownership in Bradley Beach NJ, please call me today at 732-775-2774 or visit PatrickParkerHomes.com.  You may also begin searching Bradley Beach NJ real estate here!

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About Patrick Parker Realty

Patrick Parker Realty, an independent boutique brokerage located in the heart of Bradley Beach is your local market leader. We understand the demands of a changing real estate market and avail ourselves of the latest industry information and tools to ensure excellent results. Our Commitment to You Our seasoned Real Estate Agents are committed to providing all of our clients, from first time sellers to veteran real estate investors, quality and friendly service. We walk you through every step of the sale process offering the guidance, feedback, and expertise needed to ensure your complete satisfaction.
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