Even if you are sure that you have excellent credit, it is wise to double-check before contacting a lender. Order a copy of your credit report. According to the New Jersey Division of Consumer Affairs, New Jersey residents may obtain one copy of their credit report annually from each of the three major Credit Reporting Agencies Free of Charge.

To obtain this FREE report you can go to: www.annualcreditreport.com

This is the official website sponsored by the 3 major credit reporting agencies. Beware of any other websites that offer any "Free" credit reports, they may have hidden charges or commitments that are not clearly stated.

There are many resources that can help you straighten out disputed items that might show-up on your report. To learn more about your Credit Rating go to our "What's a FICO" page.

    Mortgage lenders approve loans based on the borrower's income, assets, liabilities, employment history and credit history. It used to be that a poor credit history or a high Debt-to-Income Ratio would make it almost impossible to buy a home. The 1996 Home Mortgage Disclosure Act cited credit history as the number one reason for denying a mortgage application. Today, there are more options available than ever for people with less-than-perfect credit histories. Some mortgage lenders offer sub-prime mortgage loans with less stringent qualifying criteria. The higher rate is charged to offset the higher risk to the loan originators.

    The following are the three major credit reporting agencies, and where to find your current credit report:

When you decide you have found the right home and are ready to make an offer to purchase, most all listing agencies will require that you include a Mortgage Pre-Qualification Letter from a qualified lender or some other form of proof of available funds to cover the purchase price. If you have not chosen a mortgage lender, we can supply you with references to qualified lenders upon request. Enter your E-Mail address in the box below, then click the Submit button.