Everything you need to navigate the home buying process with confidence. From understanding loan programs to closing on your dream home.
Use our calculator to assess your competitive position and get personalized recommendations.
Assess how strong your pre-approval is and get personalized recommendations to improve your competitive position.
Total monthly debts ÷ gross monthly income × 100
Multiple loan options designed specifically for first-time homebuyers with low down payments and flexible requirements.
3.5% down payment, flexible credit requirements
3% down for first-time buyers, no mortgage insurance after 20% equity
$0 down for eligible veterans and service members
$0 down for eligible rural and suburban properties
Follow these six steps to go from first-time buyer to homeowner.
Review your credit report and score. Aim for 620+ for conventional loans or 580+ for FHA.
Start saving for your down payment and closing costs. Explore assistance programs if needed.
Obtain a strong pre-approval letter from a local New Jersey lender before house hunting.
Work with a buyer's agent to find properties within your budget in your desired area.
Submit a competitive offer with your pre-approval letter and earnest money deposit.
Complete inspections, finalize your mortgage, and close on your new home!
In-depth guides to help you make informed decisions throughout your home buying journey.
Learn how Private Mortgage Insurance works and strategies to remove it early.
Read ArticleDiscover affordable areas and financing options for budget-conscious buyers.
Read ArticleWhy buying in winter can give you a competitive advantage and save money.
Read ArticleProven strategies to make your offer stand out in competitive markets.
Read ArticleGet answers to the most common questions from first-time homebuyers.
Down payment requirements vary by loan program. FHA loans require as little as 3.5%, conventional loans can go as low as 3% for first-time buyers, and VA/USDA loans offer $0 down options for eligible borrowers.
Minimum credit scores vary: FHA loans accept 580+, conventional loans typically require 620+, and VA/USDA loans prefer 640+. Higher scores qualify for better interest rates.
Yes! Lenders consider your debt-to-income ratio, not just the presence of debt. As long as your total monthly debts (including student loans) don't exceed 43-50% of your gross income, you can qualify.
From pre-approval to closing typically takes 45-60 days in New Jersey. Pre-approval takes 1-3 days, house hunting varies, and closing takes 30-45 days after offer acceptance.
Closing costs typically range from 2-5% of the purchase price and include appraisal fees, title insurance, attorney fees, lender fees, and prepaid items like property taxes and homeowners insurance.
Yes, New Jersey requires attorney representation for both buyers and sellers in real estate transactions. Your attorney reviews contracts, conducts title searches, and represents you at closing.
Get personalized guidance from a New Jersey mortgage expert who specializes in helping first-time buyers.