JDJ Financial Group - Real Estate Financing, Mortgage, Loan, Land, Construction, Rehab, Renovation
Mortgage
Products		Mortgage
Rates		Good Faith
Estimate		Land
Construction		Helpful
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JDJ Financial Group1048 Route 94 Blairstown, NJ 07825 · (908) 362-6684 · info@jdjfinancial.com
JDJ Financial Group

Common Misconceptions

There is a misconception that Mortgage Bankers and Brokers are less qualified to make a mortgage than our local banks. The truth is Mortgage Bankers and Brokers work with all aspects of the mortgage process every day and it is their only job, unlike a bank. In addition a Morgage Banker or Broker works with many lending institutions, saving you the trouble.

Every day mortgage interest rates are being misquoted. TV news reports the national average "rate", and excludes the national average COST to obtain that rate. Rates are not free. Just look at the rates quoted at HSH, The Wall Street Journal, or the NJ Star Ledger. You will see what the national average rate and the fees charged to get that rate are.

The APR is one of the most misunderstood numbers you will see on a rate quote sheet. The APR actually takes into account not only the interest rate, but also the points, mortgage broker fees and certain other fees that you have to pay. If the APR is higher than the rate shown, there are fees being charged you need to ask about. For more information about APRs, contact us.