Skip to main content

Preparation before Buying a Home


Think of Investing in a Home? With historically low rates and rents constantly increasing it is a good idea if you are financially able.   Times have changed however, now you need to be prepared for the paperwork that is required.  From making sure that your credit score is high enough to get a good rate to lowering your debt.  Among the list of documentation that you should be prepared to provided are


1)      W2, 1040 Last two years
2)      6-8 weeks paystubs
3)      Profit and Loss Documentation if your are Self Employed
4)      Investments
5)      Retirement Plans
6)      Other Assets such Stocks, Bonds or other Real Estate
7)      Child Support and Spousal Support (If Applicable)
8)      Other types of Support
9)      Bank Statements


As frustrating as the requirements to approve for a loan, buying a home can be a rewarding and sound investment.  It is important to make sure that you are conscious of what you can afford. You have to think of maintenance, taxes and updates. Most people do not buy a new home so the likelihood is that you will invest some money in remodeling.  


For more information about the home buying process or to inquire about our attorney closing services please contact us at (201) 880-5563. 

Disclaimer: The contents of this website are of general nature and not intended to be a substitute for legal advice or the formation of a lawyer-client relationship. In order to be properly represented, please contact your local professional. In addition, the information given on this web site has been composed by a New Jersey attorney practicing exclusively in New Jersey. None of the information contained herein should be deemed to apply in other states, nor should this website be construed as an attempt by the author to practice law in any state other than New Jersey. If you have any question regarding this website please contact our office directly at (201) 880-5563.
ADVERTISEMENT: This website contains attorney advertisement within the meaning of the Rules of Professional Conduct governing the practice of lawyers in the State of New Jersey.  This website is considered an “advertisement.” Before making your choice of an attorney, you should give this matter careful thought. The selection of an attorney is an important decision. If the representations made on this website are inaccurate or misleading, you may report this to the Committee on Attorney Advertising, Hughes Justice Complex, P.O. Box 037, Trenton, NJ 08625.


Comments

Post a Comment

Popular posts from this blog

Establishing Consumer Fraud Claims in New Jersey

The New Jersey Consumer Fraud Act purpose was to combat sharp practices and dealings that victimized consumers by luring them into purchases through fraudulent or deceptive means. It was expanded to allow a private right of action for consumers that are victims of violations of the CFA. The private right of action included provisions that allowed for entitlement to treble damages, reasonable attorney’s fees, and reasonable costs of suit. In a cause of action asserting a violation of the NJ Consumer Fraud Act a plaintiff must prove:     1) unlawful conduct by defendant;     2) an ascertainable loss by plaintiff;     3) a causal relationship between the unlawful conduct and the ascertainable loss.       D’Agostino v. Maldonado , 216 N.J. 168, 183-184 (2013) (quoting Bosland v. Warnock Dodge  Inc ., 197 N.J. 543, 557 (2009)). If the plaintiff is successful in establishing his/her cause of action, the plaintiff is entitled to treb...
Post a Comment
Read more

Harassment and Domestic Violence in New Jersey

Harassment can constitute a basis for the issuance of a restraining order if the statutory elements are satisfied. See N.J.S.A. 2C:33-4. The statute defines harassment: Except as provided in subsection e., a person commits a petty disorderly persons offense if, with purpose to harass another, he: a. Makes, or causes to be made, a communication or communications anonymously or at extremely inconvenient hours, or in offensively coarse language, or any other manner likely to cause annoyance or alarm; b. Subjects another to striking, kicking, shoving, or other offensive touching, or threatens to do so; or c. Engages in any other course of alarming conduct or of repeatedly committed acts with purpose to alarm or seriously annoy such other person. [N.J.S.A. 2c:33-4 (emphasis added).] As provided by the statute, a finding of harassment requires proof of an intent or purpose to harass. State v. Hoffman , 149 N.J . 564, 576-77 (1997). An assertion by a plaintiff that he or she felt ha...
Post a Comment
Read more

When do I need to Probate A Will in New Jersey?

PROBATE AND WILLS IN NEW JERSEY As Estate Planning Attorneys in New Jersey we often get asks whether probate is necessary if the decedent has a Will.  To better answer this question we need to know what is probate.  Probate is the process which permits an executor to transfer assets as directed by a decedent in their Last Will & Testament to the beneficiaries in accordance to the decedent's Will.  In order to make a determination of which decedent's assets must go through probate, we need to determine the tittle in which the asset is held. Assets held in the name of the decedent alone such as real estate, personal property and monies owed to the testator will generate be transferred through probate.  There is however a caveat in this situation as to some financial firms provide beneficiary designation forms which may transfer these accounts without probate. Assets held by the testator and another person jointly, with a right of survivorship, are said to be ...
Post a Comment
Read more