My Keller Williams Office Information:
301 Egg Harbor Rd.
Sewell, NJ 08080
Joe is a dedicated Real Estate Professional with experience in Listing Homes, Buyers Agent, Move Up Buyers, Downsizing, Short Sales, etc. Joe is also an AnnieMac Certified Realtor – Renovation Lending. Ask me how we can overcome obstacles to sell or buy a home with issues.
As a member of the Keller Williams Family I have exposure to many fellow Real Estate Professionals, Training and Programs to assist my clients. My goal is to simplify the process and be a trusted professional to help you achieve your goals.
Service areas: Southern NJ and specializing in Sewell, Turnersville, Washington Township, Gloucester County / Sicklerville and Gloucester Township Camden County/ Mullica Hill / Cherry Hill / Voorhees / Mt. Laurel
Prequalification vs. Preapproval
Knowing how much you can afford before you start looking for a house can save you time and frustration. Getting a clear picture of your budget will ensure that you don't fall in love with a house you can't afford.
A pre-qualification involves the mortgage lender asking a few questions about your income, financial assets and any debt you may carry. The lender will also pull your credit report. You may receive a prequalification letter from the lender telling you approximately how much you may be able to borrow.
A preapproval also involves the lender reviewing your financial records and credit history, but it goes a few steps further than a prequalification. When you get preapproved, you'll also complete a mortgage application, and the lender will underwrite (or fact-check) the information you provide. Once you're pre-approved, you'll receive a preapproval letter stating how much you can get approved for.
Reverse Mortgage Benefits
You choose one of the following payments each month:
- No payments are required as long as you live in your home.
- Income received from your Reverse Mortgage is usually tax-exempt (consult your tax adviser) and does not affect regular Social Security or Medicare benefits, but may affect eligibility for other types of government assistance.
- You retain ownership of your home.
- You can use the proceeds to pay off an existing mortgage and eliminate your monthly mortgage payments.
- Reverse Mortgages provide you with a source of income that can be used to improve your standard of living and maintain your independence.