Loans Archives | Garden State Home Loans | NJ

What is Underwriting?

Underwriting Once a loan goes through the loan processor, it is handed off to an underwriter. During the mortgage underwriting... read more →

How Do Evictions Work?

Eviction Eviction is a landlord’s legal removal of a tenant from a rental property. There are many different reasons why... read more →

The Foreclosure Process

How does foreclosure work? Foreclosure occurs when a borrower fails to meet loan obligations. Foreclosure rights and procedures are different... read more →

VA Loan Refinancing

Refinancing with a VA Loan The Veteran’s Administration loans, or, VA loans, are a home-mortgage option available to veterans, current or... read more →

loan to value ratio

Define: loan to value ratio Definition: The loan to value ratio is the relationship between the loan amount and the value of... read more →

What is PMI?

What is PMI? Private Mortgage Insurance (PMI) is an insurance policy that protects lenders against loss if borrowers stop paying... read more →

Mortgage Overlays

Mortgage overlays are company specific rules that a lender must follow. These are on top of the published guidelines for... read more →

assigned loan

Define: assigned loan Definition: An assigned loan is the transfer of ownership from one person to another.

non-conforming loan

Define: non-conforming loan Definition: A non-conforming loan is a loan that does not conform to Federal National Mortgage Association (FNMA) or Federal... read more →

non-traditional mortgage

Define: non-traditional mortgage Definition: A non-traditional mortgage is a residential mortgage loan product that allows borrowers to defer repayment of principal and,... read more →

what are lender credits

Define: lender credits Definition: Lender credits a credit that a lender may offer a borrower to help with closing costs. The lender... read more →

What is an assumable loan?

Define: What is an assumable mortgage? Definition of assumable mortgage: An assumable mortgage is a mortgage loan that can be taken over... read more →
fha loans vs usda loans

FHA Loans vs USDA Loans

Different loan programs target different buyers. A mortgage application assesses many aspects of your financial situation, such as your debt-to-income... read more →
VA loans benefits

Benefits of a VA Loan

The Veteran's Administration loans, or VA loans, are a home-mortgage option available to veterans, current or former members of the... read more →
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