Getting pre-approved for a mortgage is a critical step in the home buying process. Many people make the mistake of finding a home, making an offer, and then trying to secure their financing.

This is a very big mistake for several reasons.

First off obtaining a new jersey morgage pre-approval will give you more bargaining power when you go to make an offer on a home. Not only will you know exactly how much of a home you should be looking for, but when you find that home you will be able to tell the seller that you are as good as a cash buyer because you have already been pre-approved, you just needed to pick out your home!

This negotiating power will allow you to secure a lower sales price on your purchase contract. Studies have shown that offers made with pre-approvals are accepted over those without 97% of the time!

Before or as part of hte NJ mortgage pre-approval process you will know exactly what your credit scores are, which loan program is best for your situation, and what interst rate and payment you will be looking at.