In the current market, certainly in New Jersey, there are incredible opportunities for homebuyers.  Unfortunately, many potential homebuyers sit on the sidelines, frightened by the terrifying reports of the media.  And many, courageous enough to step out of the shadows, don't really know what steps to take next.  I offer some advice to them.

The very first step is not necessarily obvious.  Everywhere you look on the Internet there are homes, from Realtor.com to Zillow.com, and everywhere in between.  They're on Craigslist.  They're on Visualtour.com.  Some even pop up on eBay.  And then, there are the temptations on HGTV.  You can make a bundle "flipping" a house.  You can see all the choices out there.     But what do you do first?

You contact a mortgage representative. 

Crucial today to the buying process, like never before, is the mortgage approval.  Your buying power is related not only to the amount of money you have for a downpayment, or the income you earn to support the mortgage, but more than ever your credit-worthiness.  If your credit score is not over 680, say, you may a) have to put more down to purchase, and b) pay a higher interest rate.

Both a) and b) can severely limit what you can buy. 

So, where do you find a mortgage representative?  You can ask friends who have recently purchased a home, ask a Realtor® you might know, or just approach one of the large, heavily advertised mortgage companies.  But approach only one. 

Once you get a handle on what you can qualify for, then start the process of looking at homes, online, in person, whatever.  But, be certain to use a Realtor® who knows the market.  Eventually, that agent of yours will recommend a good mortgage representative, and you really should rely on that agent.

Buy a home now while selection in many parts of the country is high and interest rates are low.  These conditions will not last for ever.