Before you get any further in the home buying process, you must first obtain your preapproval from a mortgage lender. But what exactly is a preapproval?

A preapproval is a written acknowledgement from a lender that states you are qualified to obtain a home loan for the amount requested. But what many buyers may not understand is there is a real difference between a prequalification and a preapproval. The terms are not interchangeable.
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Whether you are buying a townhouse in Bridgewater, a condo in Montgomery or a home in Somerset county, Central Jersey is the place to buy a home. Through the recession, central jersey has been one the most stable areas in the country for Real Estate. Inventory of Houses for sale in this region is very stable and recently there are some that would say that the market is moving towards a sellers market. Continue reading Market Watch; Home Sales in Central Jersey →