If you’re a prospective homebuyer in New Jersey, you are probably willing to try anything and everything that may lower your monthly mortgage payment. This article reviews the pros and cons of adjustable-rate mortgages (ARMs), and I would also encourage you to Google other topics, like :
•    Temporary mortgage rate buydown...

FHA loans are the highest-cost loan that you can legally obtain for a primary residence. Stated in another way, if you pursue an FHA loan, you will pay more for it than if you pursued any other mortgage loan type. Why do retail lenders like Quicken Loans immediately direct their borrowers to FHA loans by default?...

There are several trends that we have observed in 2022 and 2023 that may help you decide whether to purchase a home this year, comparing renting to owning, and how much cash you should use towards down payment.

One of the key trends of 2022 and 2023 is increasing interest rates. The Federal Reserve was chartered through ...

There have been several important changes to mortgage loan programs and regulations in 2023. The first set of changes implemented have been designed to help first-time homebuyers by making their mortgage more affordable. The second announcement is NJ-specific and regarding the New Jersey Home Ownership Security...

The best way to get a low-interest rate will depend on the loan program that you are pursuing and the mortgage company that you have selected. First-time homebuyers, borrowers with perfect credit, clients with a ‘moderate’ amount of total income, and buyers with a 30% or greater down payment will generally get the lowest...

Getting PreApproved is the first step towards buying your new home. In order for a preapproval to be thorough and accurate, a full tri-merge (pulling all three credit bureaus’ information – TransUnion, Equifax, and Experian) is required. Your credit score will have an impact on whether you qualify for a loan...

Choosing the right mortgage broker can make a big difference in your home buying experience. In this blog, we highlight the top 5 questions you should ask a mortgage broker. These questions will help you make an informed decision and get the best deal on your home loan. 

There are many reasons to choose to work with a Mortgage Broker for your next property purchase or refinance in New Jersey. Mortgage Brokers are business entities that secure financing on behalf of home buyers at terms that are typically better than the home buyer could secure on their own.

What some homebuyers forget or don’t even know is that your mortgage lender will continue to monitor your credit and bank account balances through closing day, even AFTER you close. When you’re in the process of closing on your home,there are two major actions that would count against you for the mortgage and should be avoided.

We work with many first-time homebuyers at Brightwire, and one of the common questions that we get is whether there are any mistakes to avoid when purchasing your first home. First-time homebuyers in New Jersey do not fit the national stereotype: 25 years old, with low credit scores, tons of student loan debt...

If you’re considering a mortgage refinance it may be challenging to decide if now is the right time and if the benefits outweigh the costs. There are three main reasons to refinance:

1.     The primary reason we have noticed clients refinancing in the current market is to obtain a larger loan amount and receive...

If you’re refinancing your mortgage, you will likely need an appraisal to determine the value of your home and the amount of equity you have built up. Appraisals are also used by lenders to determine the maximum loan amount available to a borrower. Most borrowers refinance their loan to either reduce their...

A mortgage is a loan taken out against a piece of real estate, such as a home or a commercial property. The loan is secured by the property, meaning that if the borrower defaults on the loan, the lender has the right to repossess (foreclose on) the property. Mortgages can be used to finance the purchase of a home...

There are many types of loans available. It is important to understand the different types of loans so you can make the best decision for your financial future. Here is a brief overview of the different types of loans and their features.

1. Personal Loans: Personal loans are unsecured loans that are typically used...