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Buying

Performance Property Real Estate Question

3 Ways To Boost Your Credit Before Buying A Home

Q: My partner and I have decided to buy a home. What can we do to get the lowest mortgage interest rate when we buy? Maria, Wallington, NJ A: Most people, especially 1st time home buyers assume that when they apply for a mortgage loan that they’ll get the prevailing mortgage interest rate they see on the internet. The truth is that your personal credit score plays a huge role in the mortgage interest rate you’ll be offered by a lender when you buy a home and luckily your credit score is something you have enormous control over. Here are 3 ways to boost your credit score before you shop for a mortgage loan: 1. Reduce your credit card balances. […]

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Performance Property Real Estate Question

When Is It Best To Rent Not Buy

Q: Is buying always better than renting? Sandy, Linden, NJ A: The first thing to consider whether you rent or buy is affordability—what can you reasonably afford? In some places like Manhattan or San Francisco, homeownership may be out of reach for many people because the price of land is so high. Overall, the benefits of homeownership certainly add up over time (tax deductions, wealth or equity creation etc.). It is unwise to think of renting vs. buying in a one size fits all way. As with all important life decisions, before considering whether to rent or buy, you should look honestly at your current personal situation—your income, your debt, your marital status and most importantly, your goals-short term and […]

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