Mortgage Broker New Jersey, Local Mortgage Bankers - Interstate Home Loan

Mortgage Broker New Jersey

Mortgage Broker New Jersey2022-07-11T11:35:50+00:00

Need to get a mortgage in New Jersey?

Owning a home is a dream that most people hope to makes a reality. Buying a property doesn’t require any special talent, but you do need solid and secure financial backing. There are certain things that every potential buyer should keep in mind, before making what possibly could be one of the single biggest investments of their life. For all your financing loans, or mortgage needs, contact Interstate Home Loan Center.

Learning how to get a mortgage isn’t as difficult as it sounds. The team of experts at Interstate Home Loan Center can make getting loans so much easier. Being prepared and finding a good mortgage broker can go a long way toward ensuring you get a great rate and helping you find a home you love. We take care of all the necessary paperwork to get you a mortgage pre-approval in New Jersey. We will draw a comparison of mortgage interest rates and terms, that will fit your budget.

What to know when looking to get a mortgage in New Jersey?

To get a mortgage, you’ll need to know your credit score and your credit history. Before you start searching for homes in New Jersey, get pre-approved for a mortgage. This gives you the upper hand and ensures that you’re able to secure the house that you love. A few other things that lenders consider are your debt-to-income ratio, and assets like a savings account, retiring accounts, and other taxable investments. The lower your credit score, the higher the risk you pose to mortgage lenders. That means you have fewer chances of getting approved for an investment property loan. If by chance a real estate investor with a credit score on the low side is approved, they will have higher interest rates and possibly a shorter amortization schedule. 

The minimum credit score when it comes to investment property loans is 620. Some mortgage lenders might accept a credit score lower than 600, but for a good rental property mortgage plan, a credit score of 660 and higher is preferable. However, if your credit score isn’t as high as it needs to be, don’t worry, Interstate Home Loan Center can step in and help. We ensure our clients don’t feel burdened by the financial responsibilities of a loan and are able to get the best terms of payments. We can help you get a mortgage banker in New Jersey.

Looking for a Mortgage Banker in New Jersey?

If you are trying to decide between a mortgage banker in New Jersey or a mortgage broker in New Jersey, we can help you make the right choice. We discuss the basics of Mortgage banking and a Mortgage broker with our clients and many prefer to go with a mortgage banker in New Jersey. Interstate Loan Center is a leading Mortgage Banker in New Jersey. We take pride in helping our clients get closer to their dream homes. Looking for the right lender but don’t know where to start? We can help. We have experience as well the financial expertise to design a loan program that fits your budget. If you’re looking to refinance a loan in New Jersey, we can help you with that as well. A dedicated mortgage banker in New Jersey will assist you in the process. 

Mortgage Broker Vs Mortgage Banker

To make an informed decision, you need to know the difference between a mortgage broker and a mortgage banker. Mortgage brokers are middlemen who put home buyers and mortgage banks together. In other words, mortgage brokers do not actually lend their own money, but coordinate obtaining funds for you amongst many different mortgage banks. 

 Mortgage Bankers are the ones who work with lending institutions. Generally, when people refer to mortgage banks, they often talk about large retail banks. Mortgage banks lend their own money for mortgages. They have extensive experience in working with different types of lenders, loan repayments and payment options. A mortgage banker in New Jersey is employed by an institution and gets a salary. They have more control over a transaction than a broker acting as the middleman. 

Interstate Home Loan Center is a reliable mortgage banker in New Jersey. We can help you simplify the process of getting a home loan. We have the financial experts you need to close a loan. Our team is up to date with the most recent market trends and we will guide you through every step in the loan process. 

The main reason why real estate transactions take time to work out is that buyers don’t get approved for mortgages. Contact Interstate Home Loan Center, a New Jersey Mortgage broker today, and let us help you secure the home of your dreams. Contact us at 1-888-624-1414.

Quick Quote

Interest Rates

At Interstate Home Loan Center, we take pride in offering our clients the lowest interest rates possible. Whether you are looking to purchase or refinance, the team at Interstate is ready to help you secure the best rate possible! Contact Interstate today for more details.

20-YR FIXED

5.00%

5.14% APR

Lender Fees – $995
Points – $0

30-YR FIXED

5.25%

5.37% APR

Lender Fees – $995
Points – $0

15-YR FIXED

4.50%

4.61% APR

Lender Fees – $995
Points – $0

**Disclaimer This is not a commitment to lend. Terms and conditions apply. Interest rate and annual percentage rate (APR) are for informational purposes only. Rate and APR are based on single family, owner-occupied, primary residence purchase of conforming loan sizes with 60% loan-to-value and assumes 780 FICO score. Rates are prevailing and subject to change. Call for today’s live rate.

Our Process

Securing a mortgage doesn’t have to be stressful or time consuming. We believe in full transparency, and getting your loan approved FAST! You will be able to track the status at all times while we are working to move forward on our end. Any hold up can cause you to lose out on a home you’ve put an offer in on! At Interstate, our process is seamless and best of all, quick!

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Average Number of DAYS to close your loan.
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FAQs

What is the best way to get a mortgage in New Jersey?2022-07-11T11:00:56+00:00

It is a good idea to do some research on mortgage programs and rates. You can do most of your research on-line or by phone. Organize the necessary financial paperwork and contact the team at Interstate Home Loan Center. We can help you navigate the process of getting a mortgage in New Jersey. When making mortgage comparisons, you must be sure you are comparing mortgages of similar terms, i.e. a 30 year vs. a 5 year, do the mortgages you are comparing have prepayment penalties and do they have similar rate lock durations? There is a lot of difficult jargon when it comes to getting a mortgage in New Jersey. Let our experts help you select the best option for you and your financial goals.

What does a Mortgage Banker in New Jersey do?2022-07-11T11:01:06+00:00

Mortgage Bankers work for a financial institution and help individuals obtain a mortgage loan. Their years of experience in the industry and relationships with lenders can provide either first time home buyers or seasoned real estate investors with the tools they need to secure a loan that fits their financial goals. Contact the team at Interstate Home Loan Center to find out how our New Jersey Mortgage bankers can help you in the home buying or refinancing process!

If I have a bad credit score, can I still get a mortgage in New Jersey?2022-07-11T11:01:16+00:00

The truth is that it depends on how low your credit score is. If you think your credit score may cause an issue in obtaining a loan, please reach out to our office. The team at Interstate Home Loan Center has experience is working with individuals with lower credit scores and helping them get a loan to purchase a home in New Jersey. Our experts can also advise you on immediate steps you can take to bring your credit score back up!

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